Crypto IPO boom and trade talks fuel Bitcoin’s climb

Bitcoin surged past the $110,000 mark late Monday, reaching this level for the first time in nearly two weeks. This upward movement was fueled by growing optimism surrounding renewed trade discussions between the United States and China.

The price increase also triggered a wave of short liquidations as the rally gained momentum.

The world’s largest cryptocurrency by market capitalization recently traded at around $110,286, representing a 3.6% increase over the past 24 hours. Bitcoin has now risen nearly 5% over the last seven days, rebounding from a dip below $101,000 on June 5th—a pullback that followed a broader decline that began in late May.

With BTC now approaching its all-time high of $111,814, set in May, market observers are paying close attention.

“Bitcoin breaking above $110,000 for the first time in two weeks indicates renewed bullish momentum after a period of consolidation,” stated Joe DiPasquale, CEO of crypto investment firm BitBull Capital. “If BTC can maintain this level, it could pave the way for a new push towards the $120,000 range.”

Other major altcoins also experienced gains. Ethereum (ETH), the second-largest cryptocurrency by market cap, increased by 4.5% to over $2,679, and Solana (SOL) rose by more than 3% to trade near $160.

Even meme coins, which have faced challenges in recent weeks, showed signs of recovery. Dogecoin jumped by 4.5%, and Shiba Inu added 2.5%.

Crypto IPO Boom and Trade Talks Fuel Bitcoin’s Climb

The market's uplift coincides with renewed discussions between Washington and Beijing regarding long-standing trade tariffs—talks that have eased broader investor concerns.

Investors appear optimistic about the potential for resolving trade disputes between the US and one of its largest trading partners. Treasury Secretary Scott Bessent and China’s Vice Premier for Economic Policy, He Lifeng, are expected to lead their respective delegations in negotiations continuing on Tuesday.

Equities reacted modestly, with the Nasdaq and S&P 500 edging slightly higher on the day.

Another factor contributing to Bitcoin’s price surge is the increase in crypto-related IPOs. Last week, stablecoin company Circle went public on the New York Stock Exchange and saw its shares surge over 168%, jumping from $31 to $69 within the first day of trading. Gemini, a crypto exchange founded by the Winklevoss twins, has also filed for an IPO.

According to David Siemer, CEO of crypto asset management company Wave Digital Assets, while the IPO boost is likely to be short-term excitement, long-term institutional positioning leads them to be optimistic about Bitcoin’s continued performance in 2025.

Bitcoin Shorts Crushed as $323M Liquidated in a Day

In the past 24 hours, nearly $323 million in crypto short positions have been liquidated, according to CoinGlass data. Bitcoin accounted for the majority of these liquidations, with around $196 million worth.

These liquidations occurred amid increasing macroeconomic pressures and renewed trade tensions, which have unsettled investor confidence.

Spot Bitcoin ETFs have experienced outflows in five of the last seven trading sessions, reflecting this cautious sentiment. In contrast, Ethereum ETFs have enjoyed a streak of positive momentum, recording 15 consecutive days of inflows.

10X Research stated in a report released Monday morning that Bitcoin is testing a breakout level, and the market setup appears significantly different from what most investors anticipated just weeks ago.

According to the report, negative funding rates, a pattern of market bottoms, and a surprising surge in spot demand combine to create a high-conviction signal.