Crypto market rises in light of US-China agreement; Bitcoin recovers $115,000!

In the past 24 hours, Bitcoin has managed to reclaim the $115,000 level as hopes for trade talks between the US and China improve. The cryptocurrency has gained 3.5% during this period, from $111,360 to $115,350. As such, Bitcoin is now almost 8.5% below its all-time high of $126,200 reached on October 6. Recent talks between US and Chinese officials in Malaysia have resulted in a preliminary framework agreement that both sides have described as a constructive step towards reducing trade tensions.

Despite Bitcoin’s recent growth, network metrics such as transaction volume and active users are still showing no signs of stabilizing. However, some analysts remain bullish on the fourth quarter, predicting a Bitcoin price rally to $200,000 as global liquidity increases and institutional investors enter the fray.