After the Conclusion of China-US Trade Negotiations
Following the end of the China-US trade negotiations, advisors to President Trump announced that the talks had made “substantial progress,” though they did not provide many details. The Coinglass Fear and Greed Index has reached a level of 70 in the greed zone, with Bitcoin attempting to challenge 105K over the weekend, leading the rise of risk assets such as US stocks. Has the “Banana Zone,” as proposed by macro investor Raoul Pa, arrived?
China-US Negotiations Conclude, Are the Differences Not Significant?
After two days of negotiations in Geneva, US Treasury Secretary Becerra and Trade Representative Jamieson Gree stated that they would share more information on Monday. Gree told reporters, “The differences may not be as great as imagined.” Chinese officials at another press conference on Sunday expressed similar views, stating that the discussions had achieved a “good sustainable development” of China-US relations.
Wall Street Giants Entering the Market, Has Bitcoin Entered the Banana Zone?
The Coinglass Fear and Greed Index has reached 70 in the greed zone, with Bitcoin attempting to challenge 105K over the weekend, leading the rise of risk assets such as US stocks. Has the “Banana Zone,” a term describing the “banana-shaped” trend chart when Bitcoin enters a phase of wild price surges, arrived?
(Bitcoin Entering the “Banana Zone”? Understanding the Price Surge and Hidden Risks Behind Market Frenzy)
Bitcoin’s price has strengthened, and the sentiment in the crypto market has turned warm, with global funds pouring into spot Bitcoin ETFs. BlackRock’s IBIT has performed exceptionally well, recording net inflows for 20 consecutive trading days and attracting investment from Wall Street giants like Goldman Sachs, becoming the focus of the market.
(20 Days of Inflows! BlackRock’s Spot Bitcoin ETF Attracts Capital, Goldman Sachs Becomes the Largest Buyer)
Additionally, after meeting with the SEC’s cryptocurrency working group, BlackRock submitted revised documents for the Ethereum ETF (ETHA) and Bitcoin ETF (IBIT) before the weekend, adding hope for the progress of crypto ETFs. Bloomberg ETF analysts expect the SEC to approve crypto ETFs for physical creation/redemption this year.
(Crypto ETF Progress in Sight? BlackRock Meets with SEC Group, Submits IBIT and ETHA Revisions)
ETH Surges Past 2,600, E-Guardians Make a Glamorous Turn
Ethereum has recently seen a strong rise, surpassing 2,600 USD over the weekend, marking the first time since late February this year. Recently, a term that was originally used sarcastically, “E-Guardians,” has quietly gained popularity on the social platform X. It not only represents a group of steadfast supporters of Ethereum (ETH) but has also undergone a glamorous transformation from “laughingstock” to “faith” in just a few days.
(From Laughingstock to Faith: “E-Guardians” Become a New Meme in the Ethereum Community)
This Week’s Data to Watch
The US CPI inflation data will be released on Tuesday. GDP data from the UK and Eurozone will be released on Thursday, followed by US jobless claims and PPI data. The market will also pay attention to Federal Reserve Chairman Jerome Powell’s speech on Thursday.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and prices can be highly volatile, potentially resulting in the loss of your entire principal. Please assess the risks carefully.