Oh, what a melodrama! The cryptocurrency markets, those fickle lovers of fortune, have staged a recovery after a record $19 billion liquidation event, as if the global economy were a tragic play with a temporary ceasefire in the US-China trade war. 🎭
Bitcoin (BTC), that sly fox, briefly leapt above a two-week high of $116,400 on Monday, driven by the faint hope of two macroeconomic spectacles: the FOMC’s interest rate decision and a potential trade deal between the US and China, which might arrive as soon as Thursday. A dance of uncertainty, indeed! 🕺
Crypto investor sentiment, once cloaked in fear, now shuffles into “neutral” territory after whispers of a “preliminary” tariff deal between the two titans. A fragile truce, like a candle flickering in a storm. 🧘
The rebound arrives just days before Trump and Xi Jinping, those two theatrical titans, are set to meet on Thursday. A rendezvous of diplomacy, or perhaps a farce? 🌐
“Recent optimism surrounding the US-China trade negotiations helped ignite a weekend rally in Bitcoin,” said Wenny Cai, a voice of reason amid the chaos. “Signs of progress have lifted broader risk sentiment,” she added, as if the market were a child learning to walk. 🧠
US and China will “come away with the deal,” said President Trump
Trump, ever the showman, declared that the two nations would “come away with the deal” after Thursday’s meeting. A promise as fleeting as a snowflake in a furnace. 🗣️
This sign of de-escalation helped Bitcoin reclaim the key short-term holder cost basis of $114,000, a milestone as tenuous as a spider’s web. 🕷️
On Oct. 10, Trump threatened a 100% tariff on Chinese imports, a move as dramatic as a Shakespearean tragedy. 🎭
“Starting November 1st, 2025… the US will impose a Tariff of 100% on China,” he wrote, as if drafting a decree from a medieval king. ⚖️
Crypto markets then faced a record $19 billion liquidation event, a tempest that saw Bitcoin crash to $104,000. A fall as graceful as a broken compass. 💥
Wednesday’s interest rate decision, a grand opera of economic drama, now fuels demand for risk assets. Markets, ever the gamblers, bet on a 96.7% chance of a rate cut. 🎰
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2025-10-27 15:31