Bitcoin Faces Key Test Near $95K Resistance
Bitcoin is holding steady above $94,000 as the market waits for updates on trade talks between the U.S. and China. Most major Asian markets were closed, causing low trading activity. Despite this, regional currencies strengthened, especially the Chinese yuan and Taiwan’s dollar. Taiwan's dollar rose sharply due to strong foreign investment and impressive profits from tech giant TSMC.
Investors are cautiously hopeful that the U.S. and China will reach a trade agreement. However, prediction markets remain doubtful, giving low odds for a deal soon. China’s Commerce Ministry is reviewing a U.S. proposal to restart talks, and former President Trump hinted that China wants a deal.
Bitcoin is currently stuck between $93,000 and $95,000, facing strong resistance. Experts say this price range is important for market direction. If Bitcoin falls below this level, it could return to a period of price stagnation. But if it breaks above $95,000–$98,000, there's less selling pressure and a chance it could climb toward a new all-time high, possibly over $100,000.
Source: CoinDesk
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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