Market Momentum: A Look at Week One’s Global Trading Performance

Global markets experienced a dynamic start to the week, showcasing varied responses to various economic forces. While Bitcoin traded steadfastly around $105,650, hopeful anticipation surrounding trade interactions between the U.S. and China buoyed Asian stock indices. Notably, Sunday’s doji candlestick pattern indicated hesitation in cryptocurrency trading activity, while on-chain transaction volume reached a yearly low, signaling subdued market engagement. The Hong Kong Hang Seng index surged by 1.3%, crossing 24,000 points for the first time since March, driven by increased risk appetite across Asia. Cryptocurrency performance saw Bitcoin’s range remain confined around $105,650 as Blockchain.com data echoed this stagnation with on-chain activity near a year low. Miners even processed transactions with minimal fees, indicating limited market momentum.