Key factors:
-
Bitcoin gained 3.6% to above $109,000 on June 10, fueled by US-China commerce talks and excessive open curiosity within the futures market.
-
A BTC value bull-flag is in play on the chart, focusing on $158,000.
Bitcoin (BTC) is up at the moment, rising over 3.6% within the final 24 hours to over $109,300 on June 10.
Information from Cointelegraph Markets Professional and TradingView reveals that the BTC/USD pair climbed as a lot as 5% to an intraday excessive of $110,532 on June 10 from a low of $105,400 on June 9.
Let’s check out the components driving up Bitcoin value at the moment.
US-China commerce talks enhance danger urge for food
Bitcoin acquired a recent enhance from renewed danger urge for food amid rising optimism that the continued US-China commerce talks in London might result in a optimistic end result.
🔥 NEW: US-China commerce talks resume Monday in London.
Karoline Leavitt calls it a push for extra complete talks. pic.twitter.com/fAH0CSu9wi
— Cointelegraph (@Cointelegraph) June 8, 2025
These negotiations, aimed toward easing tariffs, sign potential de-escalation of commerce tensions. Traditionally, optimistic commerce developments enhance risk-on sentiment, driving capital into belongings like Bitcoin. BTC value rallied to new all-time highs in Could after the US and China closed a 90-day commerce settlement.
Constructive commerce outcomes can also counter any inflationary pressures from upcoming CPI knowledge, lowering fears of tighter Federal Reserve insurance policies that would dampen crypto markets.
In the meantime, markets have dominated out any risk of charge cuts on the June 18 FOMC assembly, with the percentages of the lending charges remaining unchanged standing at 99.9%, as per the FedWatch instrument.
OI rises with Bitcoin’s value rebound
A rise in open lengthy BTC positions within the futures market preceded Bitcoin’s rally to $110,000. Bitcoin’s whole open curiosity (OI) within the derivatives market elevated to a two-week excessive of $77 billion on June 10, knowledge from CoinGlass reveals.
The chart beneath reveals that Bitcoin’s OI has jumped 8% prior to now 24 hours, suggesting elevated demand for leveraged BTC positions.
Moreover, Bitcoin CME futures OI additionally hit a 14-day excessive of 151,915 BTC on June 10, value roughly $16.6 billion, as per Glassnode knowledge.
The derivatives buying and selling quantity has jumped 112% over the past 24 hours to $114.3 billion, reinforcing the depth of the demand-side strain.
Bitcoin’s bullishness on June 10 is accompanied by vital liquidations within the derivatives market. Over $195 million value of quick BTC positions have been liquidated over the 24 hours, in comparison with simply $9.3 million in longs.
Bearish merchants are compelled to shut their positions when quick positions are liquidated.
Bitcoin’s bull flag targets $158,000
The BTC/USD pair is predicted to renew its upward momentum after breaking out of a bull flag sample on the each day chart, as proven within the determine beneath.
The sample was confirmed when the worth closed above the flag’s higher boundary at $105,600 on June 8, signaling the beginning of a large upward transfer.
The flagpole’s top units the goal, which tasks Bitcoin’s value ascent to $158,000 or roughly a 44% enhance from the present value.
One other bullish indicator is the relative energy index, which is transferring inside the optimistic area at 61, suggesting that there’s nonetheless room for extra upside earlier than “overbought” circumstances set in.
As Cointelegraph reported, Bitcoin’s breakout from a cup-and-handle sample is more likely to open the trail towards $140,000.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a call.