2.6% Gain as $319M in Shorts Liquidated; Trump–Xi Meeting Ahead
The post 2.6% Gain as $319M in Shorts Liquidated; Trump–Xi Meeting Ahead appeared on BitcoinEthereumNews.com.
Bitcoin traded around $114,501 at 23:35 UTC on Oct. 26, extending a clean break above $112,000 as short sellers bore most of the day’s liquidations and traders parsed fresh U.S.–China trade-talk posts ahead of this week’s FOMC meeting. Breakout recap CoinDesk Research’s technical analysis model observed a move from $111,453 to $113,572, led by a 09:00 UTC surge where volume jumped roughly 318% above the session average, carrying price through the $112,000 cap. Follow-through added successive higher highs into midday before activity cooled, with price narrowing into a $113,550–$113,720 box. Attempts near $113,700–$113,733 faded, defining immediate resistance, while a shelf formed near $113,300. Derivatives check Over the last 24 hours, CoinGlass tallied $393.74 million in liquidations across venues, including $319.18 million from short positions and $74.45 million from longs. The largest single wipeout was a $19.04 million BTC-USD order on Hyperliquid. In plain English: traders betting against the move were forced to exit far more than longs, a dynamic that can amplify upside once a key level breaks. U.S.–China consultations Between 12:29 and 12:36 UTC, the Chinese Embassy in the U.S. posted three updates on X describing “candid, in-depth and constructive” consultations in Kuala Lumpur between Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. The posts listed working topics: Section 301 measures on China’s maritime, logistics and shipbuilding sectors; a possible extension of the suspension of reciprocal tariffs; fentanyl-related tariff and law enforcement cooperation; agricultural trade; and export controls. The embassy said the sides “reached basic consensuses” and would work out specifics through domestic processes. A follow-on post quoted He Lifeng that stable U.S.–China trade serves both countries and called for dialogue on equal footing. It referenced implementing “important consensuses” reached by the two heads of state earlier this year, managing differences,…
