Bitcoin Falls Below $110K Despite Optimistic US-China Trade Talks and Positive US CPI Figures: Financial Overview

Despite encouraging news regarding US-China trade relations and favorable US CPI data, Bitcoin was unable to maintain its momentum, falling by over $2,000. This comes after the cryptocurrency had seemingly recovered from a significant drop, reaching as high as $110,500 during the week.

However, Bitcoin failed to break past the $110,000 mark and currently trades below $108,000 with a market cap of $2.140 trillion. Most altcoins also experienced losses, including DOGE, SUI, ADA, LINK, TRX, and AVAX, with daily drops ranging up to 6-7%. Ethereum dipped by just over 1%, trading at $2,750, while XRP fell below the $2.3 mark.

The total crypto market cap has decreased by over $70 billion, currently standing at $3.510 trillion.