Trump repeatedly praised "not bad," Bitcoin surges to new high
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Trump repeatedly praised "not bad," Bitcoin surges to new high
Bitcoin breaks out of the "death cross" zone, with continuous positive developments pushing it forward.
Navigating Web3 tides with focused insightsBy Bright, Foresight News
On the morning of June 10, positive developments from U.S.-China talks boosted sentiment in the crypto secondary market. Bitcoin (BTC) rebounded past the $110,000 mark, just $1,400 shy of its all-time high, while many altcoins saw significant gains. After hitting a record high on May 22, BTC had undergone two weeks of consolidation, reaching a low of $100,355 before steadily recovering to $110,000 this week—a rise of over 10.26%. At the time of writing, Bitcoin was trading at $109,632.
Ethereum (ETH) showed relatively strong performance. After brief consolidation, it resumed its upward trend, climbing from a low of $2,379 to surpass $2,726—just $62 below its current cycle peak, marking a gain of more than 12.2%. SOL, possibly affected by weakening on-chain activity and large-scale selling, dipped to a low of $141 before recovering slightly to $161, up 14.18%, but still far from its recent high of $187.71.
The total cryptocurrency market cap rose over 2%, approaching $3.5 trillion. With broad-based altcoin strength, Bitcoin's dominance dipped slightly to 62.42%, the Altseason Index rebounded to 20, and the Fear & Greed Index climbed to 64, indicating "greed." Meanwhile, U.S. equities edged higher. The S&P 500 gained 5.52 points (0.09%), now just 2.3% below its February 19 closing high. The Dow Jones fell marginally by 1.11 points (0.00%) to close at 42,761.76, while the Nasdaq rose 61.28 points (0.31%). Among U.S. crypto-related stocks, Circle continued to shine, surging past $138 during the session—over 4.45 times its $31 IPO price. Coinbase gained 2.13%, rising to $256.63, and MicroStrategy climbed over 4.71% to close at $392.12, nearing its $400 milestone.
In terms of liquidations, Coinglass data shows that over the past 24 hours, more than 106,600 positions were liquidated, totaling $436 million in losses. Short liquidations amounted to $381 million, while longs accounted for $54.6 million—indicating shorts bore the brunt. The largest single CEX liquidation was an ETH-USDT contract on Huobi, valued at $4.06 million.
Overall, Bitcoin’s long-term fundamentals remain intact. Continued purchases by asset managers and public companies have become a key driver behind BTC’s sustained momentum. Following two weeks of broad consolidation, BTC has resumed healthy gains, further fueled by improved risk appetite amid renewed U.S.-China trade dialogue. A push toward $120,000 may not be out of reach this June.
Trump Administration Praises Talks as “Good”
On June 9, the first meeting of the U.S.-China economic and trade consultation mechanism took place in London, focusing on issues including Chinese rare earth exports and U.S. technology product trade. Chinese Vice Premier He Lifeng, U.S. Treasury Secretary Bessent, and U.S. Commerce Secretary Lutnick attended. Notably, Lutnick had skipped prior talks in Geneva in May and is known as one of the most hardline U.S. officials regarding tech export controls on China.
On June 10, the Trump administration expressed satisfaction with the outcome. U.S. Treasury Secretary Bessent described the meeting as “a good discussion,” while Commerce Secretary Lutnick called it “productive.” President Trump later commented, “We’re making good progress with China, receiving good news from London. We are considering lifting export restrictions; negotiations are ongoing.” Immediately following, U.S. chip stocks rallied, with Nvidia gaining over 2.2%.
Public sentiment interpreted the officials’ positive tone as a clear sign both sides aim to extend the truce period established after earlier trade tensions. The Trump administration’s favorable response further boosted global risk assets.
Macroeconomic Data Boosts Confidence
In May, U.S. consumers' inflation expectations declined across all time horizons—the first such drop since 2024—with short-term expectations seeing the sharpest fall. According to the latest survey released by the New York Fed, one-year inflation expectations fell from 3.6% in April to 3.2%, three-year expectations dropped from 3.2% to 3.0%, and five-year expectations eased from 2.7% to 2.6%.
Although inflation expectations remain above the Federal Reserve’s 2% target, the decline signals improving consumer confidence, largely attributed to temporary easing in U.S.-China trade tensions. After news of tariff relief emerged, multiple surveys—including this NY Fed report—showed a rebound in consumer sentiment.
Kevin Hassett, Director of the White House National Economic Council, said: “By every measure, this is the largest decline in inflation we’ve seen in four years. Even as tariff revenues rise, inflation continues to fall—contrary to what many predicted, but consistent with our view all along.”
April’s inflation data also showed that the Fed’s preferred gauge—the Personal Consumption Expenditures (PCE) price index—came in at 2.1%, the lowest since February 2021. Core PCE, excluding food and energy, stood at 2.5%. Fed officials are closely watching consumer inflation expectations to assess whether tariffs could lead to persistent price pressures. Markets widely expect the Fed to hold rates steady at its June 17–18 meeting.
However, “Fed whisperer” Nick Timiraos noted that medium-term inflation uncertainty remains elevated (3-year expectation at 3.0% vs. prior 3.2%; 5-year at 2.6% vs. 2.7%). He warned that markets might be overly optimistic in interpreting short-term data.
Bitcoin Momentum Remains Strong
An increasing number of public companies are joining the strategic Bitcoin reserve trend.
On June 9, U.S.-listed firm KULR announced plans to raise up to $300 million through a public stock offering. The company currently holds 800 BTC and intends to use proceeds for general corporate purposes, including purchasing additional Bitcoin. KULR also leased 5,500 S-19 Bitcoin mining rigs through two agreements, with total payments exceeding $4 million.
Also on June 9, mining company BitMine Immersion Technologies revealed it used funds from a recent stock issuance to buy 100 BTC in the open market, officially launching its Bitcoin treasury strategy. The company stated it will continue accumulating Bitcoin as a long-term investment and core business pillar.
On the same day, UK-listed Anemoi International’s board announced it has allocated approximately 30% of its cash reserves to Bitcoin, building on its June 6, 2025 announcement. The board believes this revised financial management strategy complements its core operations and expects to release further updates soon. Anemoi International Ltd., incorporated in the British Virgin Islands, operates through its subsidiary id4 AG, a regtech firm providing digital solutions to small and mid-sized financial institutions.
Beyond corporate treasuries, institutional inflows remain a major catalyst for Bitcoin’s rise. According to Bloomberg senior ETF analyst Eric Balchunas, BlackRock’s IBIT ETF surpassed $70 billion in assets under management—reaching the milestone in just 341 days, five times faster than GLD’s previous record of 1,691 days.
Decrypt analyst Jose Antonio Lanz noted that the gap between Bitcoin’s 50-day exponential moving average (EMA) and its 200-day EMA is widening—a typical signal of strengthening bullish momentum. This confirms a positive mid-term outlook, successfully avoiding a potential “death cross,” and turning the short-term moving average zone into a solid support level. Even if prices pull back, it would be difficult to break below the critical $100,000 support—where the current EMA sits.
U.S.-China official talks initiated in London continue progressing. However, given each side’s strategic considerations, the ultimate success of these discussions remains uncertain. Any rally based on policy compromise should be approached cautiously, with vigilance for potential “black swan” events should agreements falter. The market will need to navigate and defuse risks ahead, particularly when July’s tariff data is released.
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