Bitcoin Dominates Buying Pressure - Is an Explosive Rebound Imminent?

Bitcoin buying momentum surges as market sentiment shifts bullish

Technical indicators flash green across major exchanges

Whale accumulation patterns suggest institutional confidence returning

Traders positioning for potential breakout above key resistance levels

Market veterans watching for that classic Wall Street 'surprised Pikachu' moment when crypto does what crypto does best

US and China reach trade truce, but confidence stays low

The US-China deal will roll back a significant share of the tariffs imposed during the previous disputes. Washington agrees to reduce some tariffs on Chinese goods from about 57 to 47 percent.

Ultimately, Beijing agrees to restart large purchases of US agricultural goods and significantly reduce restrictions on the export of rare earths to the US markets — the materials vital for technology and energy production. 

It is therefore no surprise that the WHITE House claimed the accord to be a massive victory for American workers, farmers, and families, and a critical stride towards restoring US economic power and national security. Chinese officials also lauded the pact as a positive step in the right direction that would bring back certainty to global commerce.

Initially, the financial markets were positive. US shares, for example, all soared, and the dollar gained momentum against all major currencies. On the contrary, significant changes were not observed in the cryptocurrency market, where it is believed that traders’ hopes have yet to materialize. 

The public has indeed considered the agreement as more of a ceasefire. Notably, various points — including tech access and commitment clauses — remain far apart or have not been addressed.  Thus, cryptocurrency market prices are projected to fluctuate, just as they did in previous rounds of negotiations.

Crypto market holds back despite improved clarity

All in all, the modest gains in the crypto industry suggest that investors are more apprehensive than optimistic. Market observers highlight the serious losses that occurred earlier in October, following Trump’s threat of 100% tariffs against China, which triggered the biggest panic in international markets. 

The event resulted in around $19 billion worth of crypto positions being liquidated in less than 24 hours. Recovery has been shaky. Analyst Michael van de Poppe of MN Capital says that the current phase is challenging, but it could, in hindsight, represent one of the market’s bottom days. He still notes that the overall momentum remains at the early stages of a potential bull cycle for both altcoins and Bitcoin.

Others echo the sentiment. More experienced traders stated that the deal is the perfect prerequisite for a slow recovery and is “bullish for markets in the medium term.” In other words, the majority is under the impression that while traders should remain hopeful, they should not expect bull activity anytime soon. For now, fear and hope are equally responsible for determining prices. Traders are likely awaiting the signs that the trade war is indeed over, and global markets will be alright long enough for the market to recover.

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