Bitcoin is at the best levels since May 27, rising above $110,000 and within striking distance of the all-time high of $111,965 set on May 22.

The latest boost comes after Commerce Sec Howard Lutnick said that talks with China were going very well and would hopefully wrap up tonight (it’s 8:30 pm in London).

That set off a round of bids in risk assets, particularly stocks and bitcoin. There may also be a tailwind for bitcoin on fresh EU sanctions on Russia and a proposal for lowering the oil price cap to $45 from $60, along with sanctions on those who sell refined Russian oil back into the EU.

Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.