Bitcoin Bounces Back Above $81,000 as Trump-Xi Summit Looms
Bitcoin has recovered from last week's turbulent markets, climbing back above $81,000 on Monday. The rebound comes as investors look ahead to this week's Trump-Xi summit in Washington, which could bring some much-needed stability to global markets.
The price increase of 1.29% followed a week of volatile ETF inflows, with spot Bitcoin ETFs barely staying positive and ether funds breaking their four-week inflow streak.
Last week, the CLARITY Act vote and a Federal Reserve rate hike put pressure on markets, causing some volatility in the price of BTC. However, the coin managed to recover, climbing to near $82,000 despite these challenges.
This week is expected to be just as eventful, with the Trump-Xi summit scheduled for Wednesday and Iran's response to Saudi and Chinese pressure still unresolved. The Fed has also signaled at least one more rate move this year, which could impact markets and potentially sway sentiment enough to move ETF flows again.