Bitcoin climbed to $109,000 on Saturday, gaining nearly 1.6% in 24 hours, as optimism spread through global markets following President Trump’s confirmation of renewed trade discussions with China’s Xi Jinping.
According to many the announcement cooled fears of escalating tariffs that had weighed on equities and crypto earlier in the week.
The risk-on shift helped Bitcoin rebound in sync with U.S. stock futures and Asian indices, marking a rare alignment between digital and traditional markets after several sessions of macro-driven selling.
Technical Bounce, But Momentum Still Fragile
From a chart perspective, Bitcoin rebounded from oversold levels (RSI 36.6), reclaiming the key $108K pivot zone. Derivatives data showed $81 billion in trading volume tied to short covering, while perpetual funding rates flipped slightly positive at +0.0023%, suggesting renewed, but cautious, bullish sentiment.
Still, analysts warn the move lacks conviction. Open interest rose just 0.59%, pointing to speculative repositioning rather than strong structural demand. Traders now eye a close above the 7-day SMA at $110,885 as critical for confirming momentum.
Mixed Signals Ahead of Inflation Data
While volume rose 14% daily, it remains 55% below weekly averages, reflecting limited participation despite the rebound. The CMC Fear Index stays at 27 (“Fear”), underscoring a fragile mood.
Market strategists see macro risk relief as a short-term tailwind but caution that sustained strength depends on upcoming U.S. inflation data. A hotter-than-expected print could reignite volatility across risk assets.
