After a slight decline earlier yesterday, the BTC price experienced a significant pullback and ultimately closed higher. The BTC futures price rebounded above the resistance level of $108,855 and stopped short of testing the historical high. This move comes as optimism resurges in the US-China trade negotiations, with representatives from both sides meeting in London, striving to get the talks back on track, which will continue today. Additionally, there are rumors that the former president plans to ease restrictions on US chip exports to China in exchange for China gaining easier access to rare earth materials. These developments have collectively boosted risk sentiment this week, with traders feeling once again that a US-China trade agreement could be reached within the current 90-day negotiation window.

News of more large-scale corporate acquisitions has also lifted Bitcoin. The Japanese hotel group/cryptocurrency investor Metaplanet announced its plan to raise about $5 billion to purchase BTC ETFs. Previously, Strategy recently announced an additional purchase of $75 million worth of BTC, becoming the world's largest BTC holder with a holding of approximately $65 billion, surpassing both the US and China.

Looking ahead, BTC seems poised for a new breakout. The news of high-profile buying and the anticipated rise in institutional ETF demand suggest that the market may continue to gain support. Any favorable news from the US-China trade front should serve as a catalyst for a new round of rebounds in the near term.