Most major cryptocurrencies recovered on Monday after suffering sharp losses over the weekend, as US President Donald Trump sought to ease concerns about US-China trade.
The total market capitalization of all cryptocurrencies rose more than 6% to surpass $4 trillion on Monday. Bitcoin was trading around $115,000 on Monday morning, after falling below $105,000 on Friday. Minor currencies also recovered some of their gains, with Ethereum recovering to $4,100 after falling below $3,500.
These gains coincided with statements made by Trump and Vice President J.D. Vance on Sunday, expressing openness to a deal with China, easing trade tensions. Cryptocurrency prices collapsed after Trump announced harsh new tariffs on China on Friday, wiping out a record $19 billion in bets, with losses exacerbated by leveraged sell-offs and low liquidity during off-hours trading
