US-China Tariff Truce Drives 5% Bitcoin Drop

On May 13th, China and the United States reached an agreement in Geneva, Switzerland, to suspend retaliatory tariffs for a period of 90 days. This development has led to a surge in trans-Pacific shipping volume, which has not only boosted port operations but also driven funds from the crypto market into the global stock market, temporarily putting pressure on the crypto market.

According to Bitunix analysts, as market uncertainty gradually recedes and recession expectations decline, risk sentiment is driven, but this also causes a fund outflow effect. Bitcoin (BTC) has dropped from a high of $105,842.1 the previous day to $100,688, with the latest price at $102,602. Regarding fund inflows, yesterday BTC and ETH saw a net inflow of $5.2 million. The liquidation heatmap indicates that the main transactions are concentrated around 105K. If it can break through 103K, then 105K can be a short-term target. Analysts suggest keeping an eye on the follow-up of the US-China trade negotiations and the progress of the agreement, as well as this week's data releases. They advise adjusting positions flexibly and paying attention to risk control.