Trump praised Bitcoin as "not bad" and Bitcoin hit a new high

Author: Bright, Foresight News

On the morning of June 10, with the release of positive news from the China-US talks, the secondary market of cryptocurrencies rebounded. BTC rebounded and broke through the 110,000 mark, only $1,400 away from its all-time high, and many altcoins rebounded sharply. BTC has been falling back for two weeks since it hit a new high on May 22, with a low of $100,355. This week, it has steadily rebounded to $110,000, with an increase of more than 10.26%. As of press time, Bitcoin is temporarily reported at $109,632.

ETH performed relatively strongly. After a short period of consolidation, it continued its good upward trend. After bottoming out at $2,379, it rebounded to $2,726, only $62 away from the new high of this round of increases, an increase of more than 12.2%. SOL may have been sold off by big investors due to the cold on-chain market. After hitting a low of $141, it barely rebounded to $161, an increase of 14.18%, but there is still a lot of room to go before the high of this round of rise of $187.71.

The total market value of cryptocurrencies rebounded by more than 2%, approaching $3.5 trillion. As altcoins collectively rose, Bitcoin's market share fell slightly to 62.42%, the altcoin seasonal index rebounded to 20, and the fear and greed index climbed to 64, representing greed. During the same period, U.S. stocks rose slightly overall. The S&P 500 closed up 5.52 points, or 0.09%, and was only 2.3% away from the closing high on February 19. The Dow Jones closed down 1.11 points, or 0.00%, at 42,761.76 points. The Nasdaq closed up 61.28 points, or 0.31%. Among the US cryptocurrency stocks, Circle continued to perform well, breaking through $138 during the session, which has risen more than 4.45 times from the issue price of $31. Coinbase rose 2.13%, and its share price rebounded to $256.63. MicroStrategy rose more than 4.71%, closing at $392.12, and is about to return to the $400 mark.

In terms of liquidation data, according to Coinglass, a total of more than 106,600 people were liquidated in the past 24 hours, with a total liquidation of $436 million, $381 million in short orders, and $54.626 million in long orders, mainly short orders. The largest single liquidation on CEX was ETH-USDT, which occurred on Huobi and was worth $4.0596 million.

It can be said that the medium- and long-term fundamentals of BTC remain unchanged, and the continued purchases by asset management institutions and listed companies have become the main buying force for BTC to continue its rise. BTC has risen healthily after two weeks of wide corrections. The positive news released by the launch of a new round of trade negotiations between China and the United States has further stimulated the overall recovery of risky assets. It may not be difficult for BTC to hit $120,000 in June.

The Trump administration praised it as "good"

On June 9, the first meeting of the China-US economic and trade consultation mechanism was held in London, UK, to discuss China's rare earth import and export issues and the import and export of pan-tech products in the United States. Chinese Vice Premier He Lifeng, US Treasury Secretary Bensont, and US Commerce Secretary Lutnick attended the meeting. Among them, US Commerce Secretary Lutnick was absent from the China-US Geneva talks in May. He is considered a senior US official with a very strict stance on China's technology export control.

On June 10, the Trump administration expressed satisfaction with the consultation meeting. U.S. Treasury Secretary Benson said of the China-U.S. talks, "It was a good meeting." U.S. Commerce Secretary Lutnick said of the China-U.S. talks that the China-U.S. talks were "fruitful." Subsequently, U.S. President Trump stated, "We have made good progress with China and received good news from London. We will consider lifting export controls, and China-U.S. negotiations are still ongoing." Immediately, U.S. chip stocks led the gains, with Nvidia rising by more than 2.2%.

Public opinion generally believes that the positive attitude of the two officials in the dialogue this time is obviously hoping to extend the truce period recognized by both sides after the earlier trade frictions. The Trump administration's satisfactory statement after the talks has driven further gains in global risk assets.

Macro data boosts confidence

In May, U.S. consumers' expectations for future inflation fell across the board, the first time since 2024, with the largest drop in short-term inflation expectations. The latest survey results released by the New York Federal Reserve in May showed that one-year inflation expectations fell from 3.6% in April to 3.2%, the largest drop. Three-year inflation expectations fell from 3.2% to 3%. Five-year inflation expectations fell from 2.7% to 2.6%.

Analysis pointed out that although inflation expectations are still higher than the 2% target set by the Federal Reserve, they have fallen significantly, indicating that consumer confidence has improved. The core reason is the temporary easing of the Sino-US trade situation. After the news of tariff easing was released, the results of multiple surveys (including this survey by the New York Fed) showed that consumer sentiment has rebounded. Kevin Hassett, director of the White House National Economic Council, said: "From the perspective of various inflation indicators, the current decline in inflation is the largest in the past four years. Although tariff revenue is rising, inflation is falling, which is contrary to what many people say (tariffs will push up inflation), but it is consistent with our judgment all along." April inflation data also showed that the Federal Reserve's preferred inflation indicator, the personal consumption expenditure price index (PCE), was 2.1% in April, the lowest level since February 2021. The core PCE excluding food and energy is 2.5%. Fed officials are closely monitoring consumers' inflation expectations to assess whether tariffs may lead to continued increases in inflation. The market generally expects the Fed to keep interest rates unchanged at its June 17-18 interest rate meeting.

However, Nick Timiraos, the "Federal Reserve mouthpiece", said that the uncertainty of medium-term inflation expectations in the United States remains high (3-year inflation expectations are 3%, the previous value is 3.2%; five-year inflation expectations are 2.6%, the previous value is 2.7%). The market may interpret short-term data "overly optimistically".

Bitcoin has strong momentum

More and more listed companies are entering the game of strategic reserve Bitcoin.

On June 9, KULR, a US listed company, is seeking to raise up to $300 million by issuing common stock on the market. The company currently holds 800 bitcoins and plans to use the funds raised for general corporate purposes, including the purchase of more bitcoins. It is reported that KULR has also leased 5,500 S-19 bitcoin mining machines for mining through two agreements, with a total amount of more than $4 million.

On June 9, crypto mining company BitMine Immersion Technologies announced that it had purchased 100 bitcoins on the open market with funds from a recent stock offering, officially launching its bitcoin reserve strategy. The company said it would continue to increase its holdings of bitcoin in the future as a long-term investment and core business pillar.

On the same day, the board of directors of British listed company Anemoi International announced that it had invested approximately 30% of its cash reserves in Bitcoin based on the announcement made on June 6, 2025. The board of directors believes that the company's revised financial management strategy is fully complementary to its current core business and expects to make further announcements on the company's business and financial management strategy in the near future. Anemoi International Ltd. is a holding company based in the British Virgin Islands. The company operates through its subsidiary id4 AG, a regulatory technology company that provides digital solutions for small and medium-sized financial institutions.

In addition, the continued influx of institutional funds has become one of the main drivers of Bitcoin's rise. According to Eric Balchunas, senior ETF analyst at Bloomberg, BlackRock IBIT's holdings exceeded $70 billion, becoming the fastest ETF to reach this milestone in just 341 days, 5 times faster than the old record of 1,691 days held by GLD.

Decrypt analyst Jose Antonio Lanz said that the gap between Bitcoin's 50-day exponential moving average (EMA) and the 200-day EMA is widening, which is usually a signal of increased bullish momentum in the market. This trend confirms the medium-term bullish outlook, while successfully avoiding a possible "death cross" and making the short-term moving average range easier to view as a good price support zone. Even if the price pulls back, it will be difficult to fall below the key support level of $100,000 - the current EMA line is exactly at this position.

At present, the dialogue between government officials of China and the United States in London is still moving forward. In view of the strategic development considerations of China and the United States, there are still certain variables as to whether this dialogue can achieve the expected results. Any rise based on policy compromise needs to be vigilant against the black swan of the breakdown of the agreement. The impact of the landing of the July tariff data still requires the market to explore and "clear mines."