Bitcoin on Monday after continuous purchases in spot exchange-traded funds contributed to a strong recovery over the past week, even as markets remain tense due to trade uncertainty between the United States and China.

The largest cryptocurrency in the world rose more than 11% over the past week, sharply recovering from its lows in early April amid a broader rebound in global risk markets. However, this recovery now seems to be losing momentum, especially amid mixed signals regarding trade talks between the United States and China and worsening tariff exchanges.

Bitcoin rose by 0.1% to $94,051.8 by 09:35 AM Saudi time. The cryptocurrency remained close to its two-month high of $95,000 reached last week, despite trading volumes.