London, July 8, 2025 - Bitcoin and major cryptocurrencies displayed limited bullish momentum on Monday, even as hopes for U.S.-China trade talks boosted Asian stocks.
Bitcoin (BTC) traded flat near $105,650, forming a doji candle on Sunday, indicating indecision. Data from Blockchain.com revealed a slowdown in network activity, with the seven-day moving average of daily on-chain transactions dropping to 315.48K, the lowest in at least a year.
XRP struggled to gain traction, trading at $2.24, down over 1% on the day. Volatility may increase this week with the XRP Ledger's APEX 2025 conference in Singapore.
Dogecoin (DOGE) traded nearly 2% lower, approaching 18 cents, failing to surpass the 100-day simple moving average over the weekend. Hong Kong's Hang Seng index rose 1.3%, exceeding the 24,000 mark for the first time since March 24, driven by optimism surrounding the trade talks.
China's consumer prices fell 0.1% year-over-year in May, and the producer price index dropped 3.3% year-over-year. U.S. tariffs are generating a deflationary shock for major exporters like China.