After weakening slightly earlier yesterday, the BTC price has significantly corrected and ultimately closed higher. The BTC futures price rebounded above the resistance level of $108,855 and stopped before testing historical highs. This move comes as optimism reignites in US-China trade negotiations, with representatives from both sides meeting in London, striving to get negotiations back on track, which will continue today. Additionally, there are rumors that Trump plans to relax restrictions on US chip exports to China in exchange for easier access to rare earth materials from China. These developments have collectively boosted risk sentiment this week, with traders feeling 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 boosted Bitcoin. Japanese hotel group/cryptocurrency investor Metaplanet has announced plans to raise about $5 billion for purchasing BTC ETFs. Previously, Strategy announced a further purchase of $75 million worth of BTC, which has now become the world's largest BTC holder, with holdings of about $65 billion, surpassing the US and China.

Looking ahead, BTC seems poised for a new breakout. News of high-profile buying and an increase in institutional ETF demand suggests that the market may continue to find support. Any positive news from US-China trade should serve as a catalyst for a new round of rebounds.