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Bitcoin (BTC) Price Soars Above $107K as US and China Resume Trade Talks in London
Bitcoin’s price has taken off in Europe’s afternoon trading session, pushing above $107,000 at the time of this writing. The cryptocurrency was trading below $106,000 throughout the morning session but the bulls took control and pushed the price up, liquidating around $60 million worth of short positions in the past four hours alone.
As reported by CryptoPotato earlier today, this coincided with another whale betting big on BTC on the popular decentralized exchange – Hyperliquid. The entity deposited over $5 million in USDC and instantly opened a long position with 20x leverage.
This development is likely connected to renewed expectations of a positive resolution between the US and China on tariffs. Delegations from both countries have arrived in London and are about to commence talks to stabilize the fragile trade truce, according to Walter Bloomberg.
The US team is led by Treasury Secretary Scott Bessent, while the Chinese delegation is led by the Vice Premier He Lifeng.
Note: The article is based on a given data.
Source: cryptopotato.com
