The cryptocurrency surged past $115,000 on Monday afternoon following a sharp decline to $109,000 just three days earlier.
Trump’s Change in Tone Towards China Sparks Bitcoin Recovery
Bitcoin experienced a modest rise on Sunday after U.S. President Donald Trump softened his aggressive stance regarding the trade conflict with China. By Monday afternoon, the digital currency had recouped approximately 46% of its losses from Friday and was trading slightly above $115,000 at the time of writing.
“Don’t worry about China; everything will be fine!” Trump stated. “President Xi is highly respected and simply faced a challenging moment. He doesn’t want economic depression for his nation, nor do I.”
However, it might be Trump himself who encountered a “challenging moment.” Just three days prior, he cautioned China about “a massive increase in tariffs” after they expanded export controls on rare earth minerals last Thursday. Trump’s warning triggered an unprecedented market sell-off that erased around $2 trillion from stock market value. The crypto sector saw $410 billion disappear as bitcoin plummeted by 11%.
Nonetheless, Trump’s statements—whether positive or negative—tend to have significant influence; even his lukewarm apology on Sunday helped establish a market bottom and initiate recovery efforts. “The USA wants to assist China rather than harm it!!! President DJT,” Trump remarked. Consequently, the S&P 500 rose by 1.53%, Nasdaq increased by 2.11%, Dow gained 1.27%, while bitcoin climbed nearly 6% from Friday’s low point.
An Overview of Market Statistics
Bitcoin advanced by 1.03% over the past day and was valued at $115272.74 according to Coinmarketcap data when this article was written. Despite this increase, the digital asset remained down by -8.06% for the week.
(BTC price / Trading View)
The trading volume over twenty-four hours dropped -7.9% reaching $&#&56;&.&#;13 billion contrary to typical post-weekend volume surges observed on Mondays;. Meanwhile;, market capitalization grew + #;1 percent totaling &36&&38&&38;;2&period29 trillion aligning with daily price growth&period However&comma Bitcoin dominance fell &minus0&period54 percent standing at &59&&period20 percent during reporting time.
(BTC dominance / Trading View)
FAQ 💡
Why did bitcoin rebound after Trump’s remarks regarding China?
Traders viewed Trump’s milder tone towards Beijing as indicative of easing trade tensions which bolstered confidence leading prices upward.
How much has bitcoin recovered?
The cryptocurrency regained approximately forty-six percent climbing back above one hundred fifteen thousand dollars.
What caused last week’s dramatic sell-off?
Markets plunged following threats issued against imposing substantial tariffs due largely upon China’s restrictive policies governing rare-earth exports.
Are broader markets reacting too?
Yes&comma U&S stock indexes saw gains exceeding one percentage point amidst renewed optimism spreading across equities alongside cryptocurrencies alike.