BTC Nears $97K, DOGE Rises 4% on US-China Positive Outlook

Bitcoin (BTC) is currently trading over $97,000 during the early hours in Asia, as market sentiment improves with reports suggesting that the United States and China are attempting to negotiate a trade agreement. Nonetheless, there remains some skepticism about whether a deal will be finalized by the end of the month.

State media in China noted, “The U.S. has taken the initiative to engage with China through various channels in an effort to discuss tariff matters.”

Among major cryptocurrencies, Dogecoin (DOGE) has seen the most significant gain, rising by 4% within the last day. Other currencies, including Cardano (ADA), Ripple (XRP), Ethereum (ETH), and Binance Coin (BNB), increased by 1-3%, with the general CoinDesk 20 index climbing 2.2%.

However, Movement’s token (MOVE) extended its decline to 21% after the company disclosed that its founder, Rushi Manche, had been suspended in light of allegations regarding token manipulation.

On the prediction market Polymarket, participants show doubt regarding the likelihood of a deal being established this month, estimating only a 20% probability of it occurring by June. This skepticism likely stems from the tough stance of the White House, indicating that negotiations could be prolonged.

The rapid implementation of tariffs previously announced by the White House caused considerable unease in the market, resulting in a sharp decline in Bitcoin’s price. However, with the current trade thaw, the prospect of Bitcoin reaching $100,000 is back on the table.

Market analysts suggest that various indicators in the crypto space are increasingly positive, placing the $100,000 Bitcoin target within reach.

According to Flowdesk, a trading and technology firm, “Crypto momentum is on the rise with broader spot flows, increased activity in altcoins, and significant shifts in market dynamics.” They noted that as Bitcoin stabilizes above $90,000, there’s a growing appetite for risk in both spot and derivative markets.

Strong liquidity continues to characterize the market, driven by increased trading volumes, heightened weekend activity, and improved depth for altcoins. Concurrently, widespread spot buying persists, particularly for speculative altcoins and AI tokens, complemented by $1.5 billion in inflows into Bitcoin ETFs amid rising institutional interest.

The market appears to be encouraged by Strategy’s ongoing Bitcoin purchases and its continued move towards greater institutional involvement.

As reported recently, Michael Saylor of Strategy has announced plans to raise $21 billion for additional Bitcoin acquisitions.

In a recent assessment, Presto Research highlighted that investors are increasingly impressed with Strategy’s growing institutional expertise, which is underscored by innovative valuation models like BTC Torque and a keen focus on accurately assessing fixed-income instruments.

Kava’s Achievement Boosts AI Token Activity

AI tokens are experiencing gains on Friday as market sentiment shifts positively following Kava Labs announcing it has reached 100,000 users for its decentralized AI platform.

According to data from CoinGecko, this market sector has increased by 3%, surpassing the CoinDesk 20 index, which rose by 1.8%.

Kava Labs’ Scott Stuart noted in a statement, “Users are gravitating toward Kava AI due to its unique offerings of verifiability and privacy, appealing to both Web3 enthusiasts and those seeking alternatives to opaque centralized AI systems.”

Stuart added that interest in Kava and decentralized AI solutions is expanding globally, with many users recognizing the importance of AI that is transparent and not controlled by a limited number of corporations.