Bitcoin Breaks $111K Amid Geopolitical Optimism; Hedge Trading Rises

Crypto markets are experiencing a surge driven by investor optimism surrounding the potential meeting between former US President Donald Trump and Chinese leader Xi Jinping. Bitcoin has climbed above $111,000, with market sentiment fueled by hopes for improved trade relations between the two countries. However, traders are employing hedging strategies as momentum fades, potentially leading to volatility. This signals a complex interplay of geopolitical factors versus intrinsic cryptocurrency fundamentals.