The main cryptocurrencies showed little bullish impulse on Monday, even when the hopes of the commercial conversations of the United States and China raised Asian actions.
Bitcoin
The leading cryptocurrency for market value, traded from floor to negative about $ 105,650, after having forged a doji candle, a sign of indecision, on Sunday, according to Data Source TradingView.
The Blockchain.com data showed a marked deceleration in the network activity, with the seven -day mobile transactions in the chain falling to 315.48k, the lowest in at least one year.
The cryptocurrency centered on XRP payments fought to gather upstart tensile despite overcoming a line of bearish trend from the top of mid May. The cryptocurrency changed from hands to $ 2.24 at the time of publication, more than 1% in the day (UTC). Volatility can increase this week as the APEX 2025 Conference of the Ledger XRP in Singapore begins.
The meme Doge cryptocurrency quoted almost 2% lower, approaching 18 cents, since it could not establish a support point above the simple mobile average (SMA) of 100 days during the weekend.
Hang Seng tops 24k
Hong Kong Hang Seng index increased 1.3%, exceeding the 24,000 mark for the first time since March 24, according to Data Source TradingView. The measure occurred in response to optimism about commercial conversations between the United States and China this week.
“Optimism is as high as it has been since Trump’s election as the main deputies of Commerce will meet in London from Monday. There are indications that the conversations will go all week and Trump himself is optimistic,” said Forexlive’s currency analyst Adam Button, in a blog post.
“The meeting should do very well,” said President Donald Trump in Truth Social on Friday, announcing the new round of commercial conversations in London.
Other Asian indexes, such as Kospi from South Korea and China’s Shanghai compound, also gained ground despite the deep deflation of the consumer door and the factory in China.
China’s deflation worsens
China consumer prices fell 0.1% year after year in May, according to data from the National Office of Statistics published on Monday. The IPC became negative for the first time in February.
Meanwhile, the producer’s price index, or factory door prices, fell 3.3% year after year in May, registering a more clear decrease than analysts of 3.2% fall expected. Factory door prices have been in deflation since October 2022.
According to Robin Brooks, a senior member in the Global Economy and Development Program at the Brookings institution, US tariffs are generating a deflationary shock for the main exporters such as China.
“China’s prices inflation for consumer goods is reduced to its lowest level since the 2008 crisis. US tariffs will now push China to total deflation. All the necessary conditions for deflation are there: weak consumption and a debt overload. US tariffs are now the catalyst …” Brooks said in X.
Deflation worsening could lead China to stimulate domestic demand with greater liquidity.
The Central Bank of China in May reduces key interest rates by 10 basic points to a historical minimum while reducing the reserve requirements index, releasing market liquidity. Last week, the China Securities Journal, administered by the State, reported that the Popular Bank of China can reduce the reserve requirements index later this year to support growth and restart the trade of government bonds.
More Chinese stimulus could be a good omen for financial markets, including cryptocurrencies.
Grant on the US CPI.
The US Consumer Price Index. UU. For Wednesday of May it will be analyzed by track markets that Trump tariffs are adding to price pressures in the economy.
The main IPC is seen that it coincides with the April rhythm of the growth of 0.2% month by month, which is equivalent to an annualized increase of 2.5% versus the 2.3% increase in April, according to FXSTERET. Muele, the inflation of the nucleus, which excludes the volatile food and energy component, is forecast that has increased more to 2.9% in May from 2.8% in April.
Barclays economists expect the data to show the first signs of price increases related to rates in a wide range of central goods.
A hotter impression than expected could abolish Fed rates cuts, potentially injecting downward volatility in financial markets.
