Recent news concerning the US-China trade deal has caused fluctuations in financial markets, including Bitcoin. The BTC price remains around $104,000.
Market Reaction to US-China Trade Agreement
Bitcoin ([BTC](https://cointelegraph.com/bitcoin-price "null")) remained at around $104,000 at the Wall Street open on May 12, as market conditions shifted following the announcement of a trade deal between the US and China. The agreement significantly influenced the S&P 500 and Nasdaq growth, which saw increases of about 3%. Additionally, the US dollar index (DXY) reached a monthly high.
Liquidity Targets for Traders
Data from research sources indicates that BTC/USD is consolidating after reaching its highest levels since late January. Traders are paying attention to the $102,000 range, where liquidity is accumulated in liquidation clusters. Popular trader Daan Crypto Trades noted in his analysis that this area could be crucial for trading activity.
New Price Records for Bitcoin on the Horizon
Trader CrypNuevo expresses positive expectations for the continued growth of Bitcoin, noting that BTC/USD has successfully retested the 50-week exponential moving average (EMA). Historically, similar patterns have led to new all-time highs. He believes that current conditions signify the potential for new Bitcoin price records.
As evidenced by the news and expert opinions, the current state of Bitcoin and markets overall reflects the complex interplay between various financial factors. The consolidation of BTC/USD following the US-China trade deal news may herald further movements in the market.
