🇺🇸📉 Bitcoin is stagnating while Hang Seng rises amid hopes for US-China trade talks

💹 Key points:

• Asian markets are rising — the Hang Seng index has surpassed 24,000 for the first time since March, amid optimism about trade talks.

• Bitcoin ($BTC) remains sluggish at around ~$105,650, despite the positive sentiment in the markets.

• Bitcoin's network activity has fallen to a year-low — averaging 315K transactions per day.

• XRP and Dogecoin are also stagnant: XRP — $2.24 (-1%), DOGE — down 2%, around $0.18.

• Deflation in China is intensifying: consumer prices in May -0.1%, producer prices -3.3%.

• New stimulus measures from China are possible — this could support the crypto markets.

📊 What’s next?

An important inflation report (CPI) will be released in the US on Wednesday:

• Forecast: inflation will remain at 0.2% m/m but accelerate to 2.5% y/y.

• Core inflation (excluding food and energy) may rise to 2.9%.

• Higher inflation could slow the Fed's plans for rate cuts, which would negatively impact the markets.