Bitcoin Remains Flat Amid U.S.-China Trade Optimism and Inflation Concerns
Major cryptocurrencies experienced minimal movement on Monday, reflecting broader market sentiments amid U.S.-China trade talks.
- Bitcoin traded near $105,650, showing a doji candle pattern indicating indecision.
- XRP struggled at $2.24, down over 1%, despite breaking a bearish trendline. Increased volatility is expected during the APEX 2025 conference in Singapore.
- DOGE declined nearly 2% to around 18 cents, failing to surpass the 100-day simple moving average.
Market Movements
The Hang Seng index rose 1.3%, surpassing 24,000 for the first time since March, driven by optimism regarding trade discussions between the U.S. and China.
Chinese Economic Data
- China's consumer prices fell 0.1% year-over-year in May, marking an ongoing deflation trend.
- The producer price index dropped 3.3% year-over-year, exceeding analyst expectations.
- U.S. tariffs are contributing to deflationary pressure on Chinese exports, potentially leading to further stimulus measures.
Upcoming U.S. CPI Report
The U.S. consumer price index for May will be released Wednesday, with expectations of a 0.2% month-on-month growth. Higher inflation data could impact Federal Reserve rate decisions and market volatility.