June 10th Bitcoin Market Analysis

The first day of China-US trade negotiations has made positive progress, with China easing rare earth exports and the US relaxing technology restrictions, leading to a rebound in market risk appetite. Although Trump has clashed with the California government over immigration policy, it has not yet affected the financial markets, with BTC and US stocks both remaining strong.

Bitcoin successfully broke through the 110,000 mark last night, perfectly fulfilling our rebound expectation above 108,000 from yesterday. 110,000 is not the end of this round, and it is currently unwise to blindly guess the peak and short.

The current market focus remains on the follow-up developments of the China-US negotiations. If positive news continues, BTC may maintain a high-level volatility pattern.