Update

BTC $102,976 | ETH $2,325 | XRP $2.35 | Total Market Cap: $3.372 Trillion

There’s a lot to unpack from the past seven days, so let’s get straight to it.

Let’s take you back to our previous Market Update from last Friday when BTC targeted $100,000 yet again. This transpired after the asset had gained over $20,000 since the early April lows. However, BTC was stopped there and couldn’t continue into a six-digit price territory.

The weekend was sluggish, while the beginning of the new trading week brought some pain. In fact, BTC was stopped at $96,000 and pushed south to under $94,000 on May 6. With the US Federal Reserve expected to maintain the key interest rates at current levels (4.25%/4.5%), there was little hope on the horizon.

That hope, though, came from reports claiming that the US and China will meet this weekend in Switzerland to discuss a potential trade deal. It seems that was all it was needed for Bitcoin to receive the much-anticipated boost. Within a day after this report, and a few more hints on the matter, the cryptocurrency finally broke $100,000 and skyrocketed to over $104,000 earlier today.