June 10, 2025 The cryptocurrency market saw a strong rally, with Bitcoin and many top altcoins such as Venice Token, Kaia, Ravencoin, Fartcoin and SPX6900 all jumping as US-China trade talks began in London.
Bitcoin Surpasses $108,000, Market Glows
Bitcoin surged to $108,000 on Monday, marking its highest level since May 29 and representing a 7.55% recovery from the monthly low. Meanwhile, many altcoins also posted impressive gains:
Venice Token (VVV) surged to $3.52 from a monthly low of $2.56
Fartcoin posted a gain of nearly 19%
SPX6900 rose more than 11%
Kaia (KAIA) and Ravencoin (RVN) also rallied
The surge pushed the total crypto market capitalization above $3.35 trillion, reflecting bullish investor sentiment.
US-China Trade Talks: A Catalyst for the Market
The main reason is believed to be the easing of trade tensions between the United States and China. The talks, which are being held in London, began on Monday afternoon and are expected to last until Tuesday. Investors are hoping that the world's two largest economies will reach an agreement to ease export controls and reduce tariffs, which have been putting pressure on global financial markets for a long time.
A positive outcome from the negotiations will help ease concerns about supply chains, chip production, and capital flows, thereby indirectly supporting the cryptocurrency market's upward momentum.
A wave of accumulation from large organizations
In addition to geopolitical factors, the bullish momentum also comes from buying activities of large organizations. Strategy recently bought an additional 1,045 BTC worth $110 million, bringing its total Bitcoin holdings to 582,000 BTC, equivalent to more than $62 billion. Other companies such as Trump Media, MetaPlanet, and GameStop are also continuing to expand their Bitcoin holdings.
This contributed to the amount of Bitcoin on exchanges falling to only 1.18 million BTC, a sharp decrease from 1.57 million BTC at the beginning of the year. The decrease in the amount of BTC on exchanges is seen as a positive sign, showing that investors are transferring assets to cold wallets for long-term holding, expecting prices to continue to rise.
Financial Confidence and Technical Signals
Bitcoin also received a boost from optimistic statements from leading financial experts. Ark Invest's Cathie Wood predicted that Bitcoin's price could increase 15 times in the next 5 years. Meanwhile, FundStrat's Tom Lee believes that Bitcoin could reach $200,000 - $300,000 by the end of this year.
Technically, Bitcoin has just completed a "cup and handle" pattern, combined with the price breaking out of the descending channel. This is a strong bullish signal, opening the possibility of BTC reaching the target of $142,000 - $144,000 in the near term.
Monday's strong price increase marks an important milestone in the current growth cycle of the cryptocurrency market. With factors from trade policy, institutional money, and technical analysis converging, Bitcoin and altcoins have a solid foundation to continue climbing in the coming time. Investors are closely monitoring developments from the US-China negotiations, hoping that the market will continue to receive positive catalysts.
