Key points:
Bitcoin price saw profit booking near $105,819, signaling that bears remain active at higher levels.
Select altcoins have continued to move higher, indicating increased investor interest.
The SPX and the DXY are playing catch-up to Bitcoin following the US-China trade deal.
Bitcoin (BTC) has started the new week on a cautious note, falling below $103,000, but the S&P 500 Index (SPX) and the US Dollar Index (DXY) have risen sharply following the announcement of the US-China trade agreement. One of the reasons could be that other assets are trying to play catch up with Bitcoin, and the sharp rally in the US dollar may be acting as headwinds for Bitcoin in the near term.
Bitwise European Head of Research André Dragosch said in a post on X that the firm’s proprietary indicator has reached its highest level since 2024. Historically, high levels of