Bitcoin is back near $110k, boosted by hopes that China and the U.S. reach a trade agreement at this week’s meetings taking place in London.
The asset, which traded as low as $100,873 last week, is now trading at $109,581 on Monday, up by over 2% in the last 24 hours. Over the week, Bitcoin managed to gain 3.94% as the asset regained momentum near $110K.
This pump helped the total cryptocurrency market to reach a capitalization of $3.41 trillion. Since June 5, investors have added a whopping $270 billion to the market.
Naturally, investor confidence is also on the rise. According to CoinMarketCap’s ‘Fear & Greed Index’, investor sentiment rose 9 points this week, currently at 55 points at “neutral” levels, just below the ‘greed’ threshold.
63% of Traders Believe BTC Will Surpass $125K This Year
Kalshi, an investment platform where traders try to predict real-world events, set up a market exclusively for how high investors believe Bitcoin will hit in 2025. Interestingly, the number of investors who hit $125,000 before the end of the year grew significantly over the last few days, further signaling that investor confidence is on an uptrend.
Overall, 63% of people on the platform believe BTC will hit $125K. Meanwhile, 32% of even more optimistic people on Kalshi are putting their money on the line, believing the world’s largest cryptocurrency will hit $135,000 before the end of the year.
This most recent market boost happened after reports that U.S. officials would be meeting with their Chinese counterparts on Monday, as reported here. The uncertainty and fear that tariffs would disrupt financial markets all around has led investors to become far more risk-averse throughout the year.
If the two nations eventually come to terms, expectations are that it would alleviate a lot of negative pressure hovering over markets like crypto and stocks.
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