Bitcoin&#8217;s rise amid US-China progress signals potential for reduced global tensions, enhancing its appeal as a stable investment asset. The post Bitcoin nears all-time high as Trump touts major progress with China appeared first on Crypto Briefing.

Bitcoin nears all-time high as Trump touts major progress with China

Bitcoin climbed to a peak of $104,900 on Saturday evening—just about 4% below 
its all-time high—following President Donald Trump&#8217;s announcement of progress 
in U.S.-China trade talks during a meeting in Switzerland.

Today in crypto: Bitcoin, altcoins shine in broad market rally following China-US trade update

According to crypto analyst CryptoS6, BONK is approaching a critical juncture 
as it tests the 200-day Simple Moving Average (SMA) at approximately 
$0.0000238, a level that has historically acted as a strong resistance during 
downtrends. A decisive break and sustained move above this long-term indicator 
could signal a significant trend reversal, effectively marking the end of 
BONK’s prolonged bearish phase. CryptoS6 emphasizes that reclaiming this level 
would validate bullish momentum and reestablish buyer dominance, setting the 
stage for an extended rally. Breaking The Long-Term SMA: Why This Level 
Matters In a recent update on X, popular crypto analyst CryptoS6 pointed out 
that BONK is flashing signs of a significant technical shift. The price is 
currently testing the 200-day SMA at $0.0000238, an area widely regarded as a 
major trend-defining level. Reclaiming this zone would mark BONK’s first 
serious bullish reversal since early Q1, signaling that buyers are regaining 
control after months of sideways or bearish pressure. Such a shift in control 
could ignite renewed investor interest and set the stage for an extended 
rally. Related Reading: BONK Symmetrical Triangle Squeeze: Is A Mega Breakout 
Imminent? What makes the setup even more interesting is the minimal resistance 
standing between the current price and the 0.5 Fibonacci retracement level at 
$0.0000348. According to CryptoS6, this area often becomes a magnet for 
breakout-driven momentum, creating room for swift upward moves. If BONK can 
firmly close above the 200-day SMA, the probability of a stronger rally 
increases dramatically, as traders are likely to pile in behind the move. 
CryptoS6 didn’t hold back from making a bold projection either. He suggested 
that BONK’s chart is setting the stage for what could be a “God Candle” 
explosive move, a vertical price move that would rapidly push he token from 
$0.000025 to $0.00004. BONK 3-Way Confirmation: Volume, Trend &amp; History Say 
‘Go&#8217; CryptoS6 firmly emphasized that a combination of growing volume, strong 
trend alignment, and striking historical pattern symmetry reinforces the case 
for a major breakout in BONK. The recent surge in volume is not just noise; it 
reflects increasing market participation and suggests that accumulation is 
underway, often a precursor to a significant price move. Meanwhile, BONK&#8217;s 
price action is aligning with key moving averages, particularly as it eyes a 
reclaim of the 200-day SMA, a critical indicator of long-term trend shifts. 
Related Reading: BONK Flashes Buy Signal After Crashing 40% In One Week – Time 
To Get In? In conclusion, CryptoS6 described the setup as “clean,” meaning the 
chart offers a well-defined structure and reliable levels for both entry and 
risk management. With momentum continuously building and minimal resistance 
ahead, the risk/reward profile remains highly favorable. Featured image from 
Shutterstock, chart from Tradingview.com

BONK Poised For Liftoff As Bulls Target Long-Term SMA Breakout

Based on the latest analysis of Lookonchain, one wallet associated with the 
TRUMP token group sent a whopping 3.5 million TRUMP tokens on May 10, 2025. 
That stash is valued at roughly $52.66 million across multiple exchange 
platforms. When so much enters exchanges all at once, it can trigger massive 
price movements and increased volatility. Traders indicate they&#8217;re paying 
close attention to order books to determine if prices will fall. Meme-coin 
community tension is building. Related Reading: Taiwan Official Proposes 
Bitcoin As Part Of National Reserve Strategy Massive Token Transfer Between 
Exchanges According to reports, the 3.5 million‑token decrease was allocated 
on four key platforms. 1.5 million tokens worth approximately $22.41 million 
were given to Binance. 1 million tokens, worth around $15.06 million, were 
distributed to OKX. Both Bybit and Coinbase received 500,000 tokens, 
approximately worth $7.53 million and $7.48 million, respectively. The wallet 
linked to the $TRUMP team just deposited 3.5M $TRUMP($52.66M) into exchanges 
again.https://t.co/9nc4YjTvxEhttps://t.co/Y8lStmCWyw 
pic.twitter.com/alY3TRv1oz — Lookonchain (@lookonchain) May 10, 2025 Such 
distribution might facilitate availability for trade or be a starting point in 
selling. Using the top exchanges&#8217; choice shows the owner&#8217;s accessibility. 
Statistics come directly from the public blockchain. Market Maker Joins The 
Fray Simultaneously, market maker Cumberland DRW transferred 300,000 tokens to 
OKX for approximately $4.4 million. Combined with previous deposits, over $24 
million worth of TRUMP tokens flowed onto exchanges in recent days. Chain 
observers noted the timing, as the activity preceded a high-profile political 
reception on May 22. Some investors are concerned it is a sign of a group exit 
strategy among large holders. Others point out that market makers will 
frequently swap tokens to hedge against risk and balance order books. Either 
situation keeps eyes fixed on the next giant transfer. WLFI Increases Crypto 
Holdings Meanwhile, a wallet associated with World Liberty Financial purchased 
1,587 ETH for approximately $3.5 million. It also acquired 9.7 wrapped 
Bitcoin, valued at approximately $1 million. That spree comes on the heels of 
another $19.58 million token deposit that appeared on exchanges on April 29. A 
wallet likely linked to #Trump’s World Liberty(@worldlibertyfi) bought 1,587 
$ETH($3.5M) and 9.7 $WBTC($1M) ~30 minutes ago.https://t.co/0qWkRUhm0D 
pic.twitter.com/KaYsTQrQ6G — Lookonchain (@lookonchain) May 9, 2025 WLFI is 
associated with a political figure, which adds to the hype surrounding the 
TRUMP token. Analysts say this action indicates the group is serious about 
holding and transferring large amounts in crypto. Related Reading: Bitcoin’s 
Grip Loosens: Market Expert Says Dominance Has Hit Its Ceiling Price Movements 
Indicate Volatility Despite sell-off fears, TRUMP increased 2.50% over the 
last 24 hours and was trading at $14.09 at press time. That&#8217;s lower than a 
recent high of $15.15. The token&#8217;s market cap is close to $2.85 billion and 
24‑hour volume is almost $2.77 billion. Large transactions on the chain such 
as these will usually initiate quick changes in price. Traders will have their 
eyes glued on exchange books and social media feeds in the next few days. If 
another whale decides to shift tokens, markets will respond in an instant. 
TRUMP token is still at the mercy of its largest holders and the timing of 
their trades for now. Featured image from Unsplash, chart from TradingView

3.5 Million TRUMP Tokens On The Move—Trump Team Makes A Big Play

Florida teenagers are facing charges of kidnapping and stealing $4 million in 
cryptocurrency and non-fungible tokens. Teenagers to Be Tried As Adults Three 
Florida teenagers are reportedly facing charges of kidnapping and stealing $4 
million in cryptocurrency and non-fungible tokens (NFTs) from a Las Vegas- 
based man. The suspects have been identified as Belal Ashraf and […]

Florida Teens Charged in $4M Las Vegas Crypto Kidnapping

Coinbase reportedly considered adopting a Bitcoin investment playbook like 
Michael Saylor&#8217;s Strategy on multiple occasions, but decided against it each 
time out of fear that it would kill the firm&#8217;s crypto exchange, Bloomberg 
reported.
&#8220;There were definitely moments over the last 12 years where we thought, man, 
should we put 80% of our balance sheet into crypto &#8212; into Bitcoin 
specifically,&#8221; Coinbase CEO Brian Armstrong told Bloomberg in a May 9 video 
call.
Armstrong said the Bitcoin (BTC) strategy could have risked the company&#8217;s cash 
position and potentially killed the crypto exchange. &#8220;We made a conscious 
choice about risk,&#8221; he added.
Coinbase Chief Financial Officer Alesia Haas, who also attended the video 
call, added that the firm didn&#8217;t want to be seen as directly competing against 
its customers over which cryptocurrencies would outperform.
&#8220;Rest assured, we are not stopping there,&#8221; Haas said, as Coinbase reported 
purchasing another $153 million worth of crypto assets in its first quarter 
results statement on May 8, which was primarily concentrated in Bitcoin.
According to BitcoinTreasuries.net, Coinbase holds 9,480 Bitcoin &#8212; worth $988 
million at current market prices &#8212; which makes up the majority of its $1.3 
billion crypto asset holdings.
Armstrong&#8217;s crypto exchange is the ninth-largest corporate Bitcoin holder, 
trailing the likes of Strategy, Bitcoin miner MARA Holdings and Tesla.
_**Related:**__**$45 million stolen from Coinbase users in the last week &#8212; 
ZachXBT**_
Several companies have begun copying Saylor&#8217;s Bitcoin playbook, funding 
purchases through stock and debt sales on the bet that Bitcoin&#8217;s price 
appreciation will boost their share prices.
Over 100 public companies have now reported holding Bitcoin around the world, 
while another 40 exchange-traded fund issuers, 26 private firms and 12 nation 
states have also reported holding the cryptocurrency.
_Source:__Mitchell Askew_
## Coinbase deepens derivative offerings through Deribit acquisition
On May 8, Coinbase agreed to acquire crypto derivatives platform Deribit for 
$2.9 billion, marking the industry&#8217;s largest corporate acquisition to date.
The acquisition will expand Coinbase&#8217;s footprint in the crypto derivatives 
market immensely, which previously had been limited to its Bermuda-based 
platform.
Coinbase noted that Deribit facilitated over $1 trillion in trading volume in 
2024 and has around $30 billion of current open interest.
The deal now makes Coinbase the &#8220;global leader&#8221; in crypto derivatives trading, 
the firm said.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_