Major cryptocurrencies experienced limited bullish momentum on Monday, despite optimism surrounding U.S.-China trade talks boosting Asian stocks. Bitcoin traded flat-to-negative near $105,650, reflecting indecision. Network activity for Bitcoin also showed a marked slowdown. XRP struggled to gain upside traction despite breaking a bearish trendline, while Dogecoin traded nearly 2% lower. Meanwhile, Hong Kong’s Hang Seng index rose 1.3%, surpassing the 24,000 mark for the first time since March 24, fueled by optimism about the trade talks. However, concerns persist over China’s worsening deflation, with consumer prices falling 0.1% year-over-year in May. The producer price index also declined by 3.3%. These economic challenges may prompt China to stimulate domestic demand through further liquidity easing. Market focus will now shift to the U.S. CPI data for May, which could reveal tariff-related price increases.
— new from CoinDesk
