Bitcoin's price has surpassed $99,000, attracting investor interest amid the upcoming US-China negotiations.
Bitcoin on the Path to $100K
At the time of writing, Bitcoin is trading above $99,000, residing in a significant resistance area. The cryptocurrency is up almost 3% on the day and around 5% on the week.
Macroeconomic Factors Driving Bitcoin
The recent movements in BTC are largely driven by macroeconomic events. Representatives from the United States and China are expected to meet this weekend to discuss a potential trade deal amid escalating tensions.
Derivatives Market and Market Dominance
The derivatives market is also cooling down. Liquidations have decreased by more than 7% in the past 24 hours. Bitcoin's market dominance stands at 62%, while the overall market is showing a 'greed' sentiment.
The situation in the Bitcoin market continues to attract attention, and its price future will depend on macroeconomic factors and investor sentiment.
