After a volatile weekend, the cryptomarkt was taught tonight, with Bitcoin (BTC) back at $ 110,000. That revival followed the decision of President Trump to postpone his planned import duties on European products for the time being. The tension of the weekend made way for a wait -and -see but more positive sentiment among investors.
Ada and doge jump out
Cardano (ADA) and Dogecoin (Doge) are the strongest risers within the top ten cryptocurrencies, with price gains of up to 3% in the last 24 hours. Their recovery fits in a broader pattern of risk -investments that regain terrain, as can also be seen in the rising American and European share futures.
The tension on the markets arose on Friday after Trump unexpectedly announced an import tax of 50% on European import. Bitcoin quickly fell from more than $ 111,000 to below $ 107,000, which led to hundreds of millions of dollars in liquidations in lung positions in Bitcoin, Ethereum (ETH) and Solana (SOL), among others.
According to Jeff May, COO of BTSE, the weekend shows how sensitive crypto remains to geopolitical shocks, but also how quickly confidence can return. “The extension of the deadline brings breathing space, and some traders seize this to rebuild positions,” he said via Telegram.
Option market hints on growing trust
The market sentiment seems to improve. On Saturday, 1,000 call options were quickly purchased on Bitcoin for a purpose of $ 130,000 in September, according to QCP Capital. Investors thus focus on rising prices in the coming months.
Another factor that feeds confidence is the continuing influx of institutional money. For example, Strategy recently collected $ 2.1 billion for extra bitcoin purchases. Yesterday, founder Michael Saylor already announced that a new purchase will be announced today.
In combination with continuous ETF inflow and favorable regulations in the United States, according to QCP, a solid foundation is created for further growth.
The fear of the weekend has not yet been forgotten, but the speed with which the market recovers is surprised many. For the time being it seems that investors do not yet see the trade conflict between the US and EU as a structural problem. Whether that is justified will prove in the coming weeks. In any case, Europe seems to want to do its best to reach an agreement.
Source: https://newsbit.nl/bitcoin-herstelt-tot-110-000-na-dip-cardano-en-dogecoin-stijgen-hard/
