$BTC

Hovers Above $94K as Traders Eye U.S.–China Trade Developments

Crypto Market Sees Low Volatility Amid Global Market Closures and Trade Deal Uncertainty

Bitcoin opened the week holding steady above $94,000 as global traders remained on edge, awaiting key updates on a potential trade deal between the United States and China. The cryptocurrency dipped slightly, trading around $94,500—down 1.2%—as Monday marked a quiet start to the week due to widespread market closures across Asia.

Major markets including Hong Kong, mainland China, Japan, and South Korea were closed for public holidays, resulting in low trading volumes and thin liquidity across digital asset exchanges. Meanwhile, regional currencies, including the Chinese yuan, posted gains amid cautious optimism that progress is being made in trade negotiations between the world’s two largest economies.

Despite the subdued tone in the markets, Bitcoin continues to show resilience, with analysts watching the $93,000–$95,000 resistance zone closely. A decisive breakout above this level could set the stage for a surge toward the psychological milestone of $100,000.

“XRP and Bitcoin bounced back from the tariff shocks in April, but have yet to make a significant movement upwards,” said Nick Ruck, director at LVRG Research, in a message to CoinDesk. “Investors may be overly cautious about risk assets such as crypto due to the current U.S. macroeconomic climate, despite $BTC

Bitcoin’s trend breaking away from its correlation with U.S. equities.”

The CoinDesk 20 Index (CD20), which tracks the performance of top digital assets, also reflected the broader market hesitation, falling 1.5% to trade below 2,700.

While the broader macroeconomic outlook remains uncertain, traders and analysts alike are keeping a close watch on geopolitical developments, particularly the U.S.–China trade talks. Any substantial progress could inject new momentum into risk assets, including cryptocurrencies.