Bitcoin Edges Higher After Wall Street Rally — Market Talk
Bitcoin edges higher following a rally on Wall Street overnight on signs of thawing U.S.-China trade tensions, U.S. interest-rate cut expectations and broadening support for technology companies. Treasury Secretary Scott Bessent announced a framework for a deal over the ownership of Chinese social media platform TikTok. Meanwhile, tech stocks rose on enthusiasm over the boom in artificial intelligence. In another boost to risk appetite, the Federal Reserve is widely expected to resume cutting rates on Wednesday followed by further cuts. "Investors are watching exchange traded funds flow data and Fed/macro signals closely--these still appear to dominate what drives crypto prices now," Saxo Bank analysts say in a note. Bitcoin rises 0.4% to $115,848, LSEG data show. ([email protected])