Monday’s major cryptocurrencies had little bullish momentum, even as hopes for U.S.-China trade talks cancelled Asian stocks.
Bitcoin
According to Data Source Tradingview, the leading cryptocurrencies are uniformly priced at negative market value at $105,650, according to market value, and are showing signs on Sunday’s Doji Candle.
From Blockchain.com shows The significant slowdown in network activity, with the 7-day moving average of daily chain transactions falling to 315.48K, the lowest in at least a year.
The payment-focused cryptocurrency XRP strives to collect upward traction, although the mid-May high is a bearish trend line. The cryptocurrency changed hands at $2.24 at press time, down more than 1% on the day (UTC). As XRP Ledger’s Apex 2025 conference is held in Singapore, volatility is likely to increase.
Meme Cryptocurrency Doge traded nearly 2% lower and closed at 18 cents, but failed to establish a foothold of more than 100-day simple moving average (SMA) over the weekend.
Suspension Forest Top 24K
Hong Kong’s Hang Seng Index rose 1.3%, surpassing 24,000 points for the first time since March 24, according to data source TradingView. The move is in response to optimism this week about the U.S.-China trade negotiations.
“Optimism vs. optimism since the Supreme Trade Representative will meet in London on Monday. explain In the blog post.
“The meeting should be good,” President Donald Trump said in “Social Friday” that the meeting should be good.” Announced a new round of trade talks in London.
Despite deepening in front of Chinese consumers and factory gates, other Asian indexes, such as South Korea’s Kospi and China’s Shanghai Comprehensive, have also made progress.
China’s deflation worsens
Consumer prices in China fell 0.1% year-on-year in May, according to data from the National Bureau of Statistics released on Monday. CPI turned negative for the first time in February.
Meanwhile, the price index of producers or factory gate prices fell 3.3% year-on-year in May, down from the 3.2% decline expected by analysts. Since October 2022, factory door prices have been deflated.
According to Robin Brooks, senior fellow at the Brookings Agency’s Global Economic and Development Program, U.S. tariffs are having a deflationary shock to major exporters such as China.
“Since the 2008 crisis, China’s producer price inflation rate for consumer goods has been falling to its lowest level. U.S. tariffs will now allow China to be fully liberalized. All necessary deflation conditions exist: consumption is weak, debt is urgent. Now, U.S. tariffs are the catalyst…” Brooks said, “Brooks said on x.
The deterioration in Canada may prompt China to stimulate domestic demand as further liquidity is needed.
May China Central Bank Lower key interest rates While reducing the reserve ratio, liquidity is released on the market at 10 basis points. Last week, state-run China Securities Journal Reported The People’s Bank of China may further lower its reserve ratio later this year to support growth and restart government bond trading.
For financial markets including cryptocurrencies, more China stimulus may be good.
Focus on the US CPI
The U.S. Consumer Price Index deadline ends on Wednesday will be under market scrutiny to raise Trump’s tariffs to increase economic pressure.
According to FXSTREET, the title of CPI matches the monthly growth of 0.2% in April, which is equivalent to a 2.5% increase per year, compared with a 2.3% increase in April. Core inflation, excluding volatile food and energy components, rose to 2.9% from 2.8% in April.
Barclays economist Expected Among the broad core commodities, data shows first signs of tariff-related prices rising.
Prints that exceed expectations may reduce tax rates and may inject downward volatility into the financial markets.
