Bitcoin and Solana prices rose on Monday. Members of US President Donald Trump’s trade team prepare to meet with Chinese officials in London, and investors focused on a series of US bond auctions later this week.
According to Crypto Data Provider Coingecko, Bitcoin has recently changed its hands to around $108,000, an increase of 1.7% over the past day. Solana’s price rose 2.9% to $156, while high-lipid-like Altcoins went from 7% to around $38.
The Chinese Ministry of Foreign Affairs statement On Saturday, his Lifeeng will be in the UK until Friday, hosting the “first meeting of the Sino-us Economic and Trade Consultation mechanism.” US Treasury Secretary Scott Bescent and Commerce Secretary Howard Lutnick are one of the US-sponsored trade representatives. CNBC.
The sit-in followed a call last week between President Donald Trump and Chinese leader Xi Jinping. Tensions with China have been rising since Trump announced a 90-day suspension on “mutual” tariffs in most countries expected to expire in early July. Tariff suspension in mid-May.
Over the past few weeks, Trump’s trade manipulation has hidden behind his big, beautiful bill, helping him drop out with high-tech CEO Elon Musk, raising bipartisan concerns about the White House’s financial constraints. Overall, the Congressional Budget Bureau say Trump’s bill, known as the OBBB, adds $2.4 trillion to the current deficit.
According to analysts at Crypto Exchange Bitunix, the growing budget deficit, which continues to increase in the government spending and revenue gap, is in response to long-term U.S. Treasury auctions on Thursday could serve as a litmus test for investors’ desire for U.S. debt, although historically routine, they added.
“(if)lYields on ONGEND US bonds have reached new highs due to insufficient auction yields, and market risk preferences will deteriorate sharply, negatively for risky assets, especially the crypto market,” Bitunix wrote in a memo.
In late May, 20-year bond auctions spill over in under-hours, with Bitcoin prices falling 2.4% to $106,900 on May 21st. The auction came shortly after Moody downgraded US debt.
“If you see these bond auctions going pretty badly, you probably think it’s pretty good for Bitcoin,” James Butterphyll, research director at CoinShares, told Decrypt. “At least, relatively, it’s going to outperform your stocks and finances.”
According to the 30-year yields remained unchanged at 4.962% on Monday. CNBC data. Batafil has long been eroding the role of the dollar as a global reserve currency, and concerns about US debt are just the latest and most recent factors that creep in.
“I’m not saying that the US will suddenly become default, I’m not saying that the US dollar will become a crater, but I might get to the point where the US dollar will really start to sell out,” he said.
Edited by James Rubin
