$BTC is trading around $96,904, showing a notable increase of approximately 3% from the previous day. The intraday high reached $97,513, while the low was $93,587.

This upward movement is attributed to renewed optimism following the announcement of high-level trade talks between the U.S. and China, which has positively impacted investor sentiment.

Despite the recent gains, technical indicators suggest caution. The Moving Average Convergence Divergence (MACD) has turned bearish, and the Bollinger Bands indicate potential resistance near the $95,000 level.

On-chain metrics remain strong, with 88% of BTC supply in profit and the Realized Profit-Loss Ratio (RPLR) above 1.0, indicating that most holders are in a profitable position.

The Fear and Greed Index currently stands at 67, reflecting a heightened sense of 'greed' among investors, which often precedes market corrections.

In summary, while Bitcoin is experiencing a bullish trend supported by positive macroeconomic developments, traders should remain vigilant due to mixed technical signals and elevated market sentiment.