Bitcoin Stays Above $105K as U.S. Banks Rebound and Trump Truce Cools Market Panic

Bitcoin steadied near $106,000 after briefly dipping below $105,000, tracking a positive shift in traditional finance markets. This recovery was fueled by surprisingly strong earnings reports from U.S. regional banks like Truist and Regions Financial, which showed lower-than-expected credit loss provisions, easing fears of a systemic banking crisis similar to March 2023. Furthermore, market sentiment received a boost after President Donald Trump announced that steep tariffs on Chinese goods "will not persist" and confirmed an upcoming summit with Xi Jinping, leading to increased risk appetite and a pop in U.S. stock futures. Despite this positive macro environment, Bitcoin remains range-bound, suggesting traders are still cautious, highlighting its current tight entanglement with the stability of legacy financial institutions.

(Source：Brave New Coin)