Ready to run
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 12th May 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Risk-Assets Seem Ready For Take-Off
Bitcoin shot past $105,000 overnight as investors assessed the seeming progress in U.S.-China trade discussions. By Monday at 8:40 a.m. (EST), the largest crypto knelt closer to $104,000, but still up 10% compared to last week at this time.
It seems the pair of economic superpowers have reached a breakthrough, agreeing to slash most tariffs for 90 days while they continue to negotiate. Equity index futures lit up. Gold prices fell.
Crypto at large seems poised for a rally, particularly if a certain central bankers decide to embrace their inner doves. Among the big-cap altcoins, XRP has outpaced the pack, surging 8% in 24 hours to hit nearly $2.60. The coin connected with Ripple has risen 25% since mid-April.
Meanwhile, a most rollicking weekend was enjoyed by Pi Network's PI. At one point yesterday, it had doubled to $1.50. PI at last check was $1.28. It's been as high as $3, a mark hit in February of this year. The developer platform is gearing up for some major announcement but there are also rumblings of a major listing pending.
What's down
Trade Tension Ratchets Lower
The U.S. and China agreed to pause most tariffs in a welcome de-escalation of trade tensions.
Reciprocal tariffs between both countries will be slashed from 125% to 10%.
Addressing the press corps on Sunday, Chinese Vice Premier He Lifeng said talks with the U.S. “achieved substantial progress and reached important consensus.”
“We had very productive talks,” U.S. Treasury Secretary Scott Bessent echoed.
Tai Hui, a strategist at J.P. Morgan Asset Management, said in a research note, per CNBC, that the magnitude of the U.S.-China tariff reduction was huge. “This reflects both sides recognizing the economic reality that tariffs will hit global growth and negotiation is a better option going forward,” Hui said. The 90-day period may not be sufficient for the two sides to reach a detailed agreement. "But," Hui added, "it keeps the pressure on the negotiation process.”
What's next
The Measured Practicality Of The Crowd
Google searches for Bitcoin touched a five-year-low, suggesting retail traders aren't really paying attention to the world's largest crypto even as it creeps closer to its all-time high.
Interestingly, as Cointelegraph pointed out, the latest data from the Crypto Fear & Greed Index shows the market is less “greedy” at $104,000 than it was on April 23 when Bitcoin was $94,000.
Fear & Greed just now measured 70/100; on April 23 it reached 72/100. That's on the cusp of “extreme greed.”
Lower levels of greed in the face of higher prices could potentially signal more sustainable BTC price increases, Cointelegraph said.
