After a slight decline earlier yesterday, the price of BTC has significantly rebounded, ultimately closing higher. The price of BTC futures rose above the resistance level of $108,855 and stopped just before testing the historical high. This move coincides with a renewed sense of optimism in the China-U.S. trade negotiations, as representatives from both sides meet in London, striving to get the talks back on track, with negotiations continuing today. Additionally, there are rumors that Trump plans to ease restrictions on U.S. chip exports to China in exchange for easier access to rare earth materials for China. These developments have collectively boosted risk sentiment this week, and traders are once again feeling that a China-U.S. trade agreement could be reached within the current 90-day negotiation window.

News of more large-scale acquisitions by companies has also bolstered Bitcoin. Japanese hotel group/cryptocurrency investor Metaplanet announced plans to raise about $5 billion to purchase BTC ETFs. Previously, Strategy announced a further purchase of $75 million worth of BTC, now becoming the world's largest BTC holder, with holdings of about $65 billion, surpassing both the U.S. and China.

Looking ahead, BTC seems poised for a new breakthrough. News of high-profile buying and rising institutional ETF demand indicates that the market may continue to gain support. Any positive news from the China-U.S. trade front should serve as a catalyst for a new round of rebound in the near term.