Bitcoin, Ethereum, XRP, Dogecoin Hold Gains As US, China Agree To Lower Tariffs

Benzinga
12 May

Major cryptocurrencies are holding firm on Monday morning as investor sentiment improves on news of a U.S.-China tariff pause.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD$103,945.97-0.7%
Ethereum ETH/USD$2,550.52+1.2%
Solana SOL/USD$175.02+0.5%
XRP XRP/USD$2.53+6.7%
Dogecoin DOGE/USD$0.2437+4.4%
Shiba Inu SHIB/USD$0.00001679+4.4%

Notable Statistics:

  • IntoTheBlock data shows Bitcoin large transaction volume grew 3%, while daily active addresses dropped 7.4% in a single day.
  • Coinglass data shows 147,351 traders were liquidated in the past 24 hours for $392.16 million.
  • Discord groups flagged a sharp rise in Bitcoin open interest, with $1.7 billion added in a day, noting that longs are pushing the price action upward despite rising funding rates.

Trader Notes: Nic Puckrin, founder and investor of Coin Bureau, says Bitcoin's rally reflects improving risk appetite as tariff reduction talks between the U.S. and China lower geopolitical friction.

Gold has dropped over 3%, reinforcing a rotation away from safe-haven assets.

"Bitcoin has shifted back to a risk-on asset," Puckrin noted. "It's once again trading in step with equities and could soon break its all-time high."

However, he cautioned that the altcoin rally lacks staying power without significant retail engagement.

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Despite ETF-driven hype, the absence of mainstream inflows could limit upside for most non-BTC assets.

McKenna says Bitcoin's one-day mean reversion signals will activate above $110,000, suggesting consolidation may follow. Still, he's confident that with liquidity tailwinds, new all-time highs are a matter of "when," not "if."

Meanwhile, CW reports that Solana has cleared its sell wall, with no resistance until $270. Trader Tardigrade is calling for a parabolic Dogecoin surge, pointing to signs of accelerated accumulation.

Chris Burniske, former ARK Invest executive, says he's long Ethereum, expecting both ETH and BTC to outperform this cycle. Ted Pillows adds that Ethereum is holding its breakout and could rally soon if momentum continues.

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Read Next:

  • Bitcoin Taps $105,000: Here’s When It Could Hit $122,000

Image: Shutterstock

$BTCBitcoin
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