Bitcoin and leading cryptocurrencies such as Venice Token, Kaia, Ravencoin, Fartcoin, and SPX6900 experienced substantial gains Monday as U.S.-China trade talks commenced in London. Bitcoin (BTC) climbed to $108,000, marking its highest level since May 29th, with a 7.55% jump from its recent monthly lows. Venice Token (VVV) notably soared to $3.52, up sharply from its month-low of $2.56. A similar trend was observed with other coins like Kaia (KAIA), Ravencoin (RVN), Fartcoin (FARTCOIN), and SPX6900, which jumped over 10%. This surge brought the total market capitalization to over $3.35 trillion. The likely catalyst for this rise was the easing of trade tensions between the United States and China with negotiations starting in London on Monday afternoon. These talks are expected to continue into Tuesday. The hope is that both sides will reach an agreement, potentially easing export controls and tariffs, thereby alleviating investor anxieties about persistent trade restrictions. The market’s optimism also stems from sustained buying activity by established companies like Strategy, Trump Media, MetaPlanet, and GameStop. This accumulation has led to a decrease in Bitcoin holdings on exchanges, down to 1.18 million compared to 1.57 million at the beginning of January. This trend is generally seen as bullish, suggesting that investors are shifting assets into self-custody for long-term investments. Bitcoin’s supply held by exchanges has declined, with a notable 1.18 million coins traded last week compared to 1.57 million on January 1st. The declining exchange balances are generally viewed as positive signals suggesting the trend toward self-custody among investors. Additionally, Bitcoin’s upward momentum was fueled by bullish statements from prominent finance figures. Cathie Wood, renowned for her investment insights, predicted a potential price jump of 15x in Bitcoin’s value within five years. FundStrat’s Tom Lee also believes the coin will reach between $200,000 to $300,000 by year-end. Further driving the surge were bullish charts and the activation of a cup-and-handle pattern in Bitcoin. The chart shows it has moved above the upper side of the descending channel, suggesting an impending surge to $142,000. This pattern is often observed as a bullish signal. Altcoins also benefit from this bullish momentum. You might also like: Circle stock price may crash soon: here’s why