Bitcoin Was Little Changed on Tuesday Even as the U.S. and China Reached a Trade Consensus After London Talks

Bitcoin price was little changed on Tuesday even as the U.S. and China reached a trade consensus after London talks.

What Happened: The apex cryptocurrency stalled after reaching an intraday high of $110,380.12. Trading volume remained thin, dropping nearly 8% in the last 24 hours.

Meanwhile, Ethereum continued to outperform its elder sibling, breaking past $2,800 for the first time since Feb. 24. Trading volume soared 48% to $38.98 billion in the 24-hour period.

Over $321 million was liquidated from the cryptocurrency market in the last 4 hours, with short position traders suffering higher losses. If Bitcoin reaches $111,000, about $240 million in shorts could be wiped out.

Bitcoin's Open Interest cooled 1.83% in the last 24 hours following Monday's surge. More than 66% of Binance traders with open BTC positions, meanwhile, were positioned short, expecting a correction.

The "Greed" sentiment intensified in the last 24 hours, according to the Crypto Fear & Greed Index.

Top Gainers (24-Hours)

The global cryptocurrency market capitalization stood at $3.45 trillion, following a minor increase of 0.38% in the last 24 hours.

Stocks ascended on Tuesday. The Dow Jones Industrial Average rose 105.11 points, or 0.25%, to close at 42,866.87. The S&P 500 gained 0.55% to end at 6,038.81, while the tech-focused Nasdaq Composite spiked 0.63% to close at 19,714.99.

The U.S. and China reached a consensus on trade after a second day of talks in London. Commerce Secretary Howard Lutnick said that the two parties "reached a framework" to implement the Geneva consensus, according to CNBC.

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Analyst Notes: Cryptocurrency analyst and trader Rekt Capital stated that Bitcoin's daily close above $109,443 could push the apex cryptocurrency to new all-time highs.

Another well-known cryptocurrency analyst, Ali Martinez, highlighted that Ethereum has broken through the key resistance at $2,820 and may target $2,920 next.

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