#USChainaTradeTalks Major cryptocurrencies showed little bullish momentum Monday, even as hopes for the U.S.-China trade talks lifted Asian stocks.
Bitcoin
BTC$105,704.99
, the leading cryptocurrency by market value, traded flat-to-negative near $105,650, having carved out a doji candle, a sign of indecision, on Sunday, according to data source TradingView.
Data from Blockchain.com showed a marked slowdown in network activity, with the seven-day moving average of daily on-chain transactions falling to 315.48K, the lowest in at least a year.
Payments-focused cryptocurrency XRP struggled to gather upside traction despite topping a bearish trendline from the mid-May highs. The cryptocurrency changed hands at $2.24 at press time, down over 1% on the day (UTC). Volatility may increase this week as the XRP Ledger's APEX 2025 conference kicks off in Singapore.
Meme cryptocurrency DOGE traded nearly 2% lower, closing in on 18 cents, having failed to establish a foothold above the 100-day simple moving average (SMA) over the weekend.
Hang Seng tops 24K
Hong Kong's Hang Seng index rose 1.3%, topping the 24,000 mark for the first time since March 24, according to data source TradingView. The move came in response to the optimism about the U.S.-China trade talks this week.
"Optimism is as high as it's been since Trump's election as top trade deputies will meet in London starting on Monday. There are indications that talks will go all week and Trump himself is optimistic," ForexLive's Chief Currency Analyst Adam Button said in a blog post.
"The meeting should go very well," President Donald Trump said on Truth Social Friday, announcing the new round of trade talks in London.
Other Asian indices, such as South Korea's KOSPI and China's Shanghai Composite, also gained ground despite the deepening consumer and factory gate deflation in China.