Memecoins surge — is this just the start?

While after “productive talks” in Switzerland a US-China trade deal seems within reach, Bitcoin is failing to break the $105,000 barrier.

Although after “productive talks” in Switzerland a US-China trade deal seems within reach, Bitcoin is not managing to break the $105,000 barrier.

What some analysts see as a warning sign can also be read as waiting for the official announcement and the resulting trade terms. U.S. Secretary of the Treasury, Scott Bessent, has more details slated for today (Monday).

Ethereum fell more than 1.8% in the last 24 hours. Over the past week, the second-largest cryptocurrency posted a gain of more than 38%. These price moves may indicate a good entry moment for ETH.

Memecoins on fire

Right now the biggest gainers in the crypto market are mainly memecoins. For example, WIF (dofwifhat) jumped about 20% yesterday. Moo Deng even doubled in the last 24 hours. Pi Network also shines with a rise of more than 40%.

U.S. stock index futures on Wall Street surged Sunday night after the United States spoke of “substantial progress” in trade talks with China. S&P 500 futures rose 1.2%, while Nasdaq-100 futures jumped 1.6%.

Now that Bitcoin has tracked gold prices in recent weeks amid geopolitical and macroeconomic tensions, the question is whether the cryptocurrency can also benefit from renewed risk-on sentiment. As trading tensions ease, BTC could lose some appeal as an alternative store of value.

Investors focus this trading week on the latest U.S. consumer and producer price data, as well as inflation expectations measured by the University of Michigan. Retail sales and consumer confidence figures are also likely to influence both U.S. stock prices and Bitcoin.

Altcoin enthusiasts have their eyes on Aptos today (Monday) due to an upcoming token unlock. More than 1.8% of the circulating token supply (currently valued at about $67 million) will be released.