Bitcoin jumped to 108,000 US dollars on Monday after the majority of the weekend near 105,000 US Trade agreement.
Bitcoin increased 2% on Monday, so loud BinanceTouch 108,900 US dollars before they fall slightly. The bump comes as investors optimism about the potential for a solution of expressions Trade disputes Between the USA and one of the largest trading partners. Finance Minister Scott Bessent and China’s deputy prime minister for economic policy that he will lead to lifeng will lead their respective delegations negotiations This is expected to start on Monday and continue until Tuesday New York Times.
The talks of this week are part of President Donald Trump’s ongoing campaign to force US trading partners to admit various demands by threatening to impose high tariffs for foreign imports. After Trump A announced Sweeping tariff policy In April, which would affect almost all US trading partners, the President approved a 90-day break to give time for negotiations.
However, the break did not contain tariffs in China, which were increased to 145%. Politicians triggered retaliation from China and prompted many investors to flee American markets and feared the consequences of a potential trade war. Bitcoin fell to an annual low of $ 75,000 when the tensions between the nations escalated.
After a summit in Geneva last month, Trump turned the course up and announced on May 12 that the USA and China had reached one agreement in which the two nations would temporarily lower their tariffs and have additional conversations to reduce the tensions. On May 22, Bitcoin rose to an all-time high of $ 111,000 according to the news about the deal.
But the ceasefire did not last long. Trump accused China of reducing the deal about a dispute over Chinese exports from rare -end magnets. Trump card wrote On May 30th Social Social on May 30th: “China, maybe not surprising for some, has completely hurt his agreement with us. So much to be Mr. Nice Guy!”
In order to save the frozen trade agreement, Trump and XI spoke by phone for the first time in the past week. Follows that 90-minute callTrump announced that top officials from both countries would meet in London this week to resume negotiations.
Other factors that can contribute to Bitcoin’s price boost are an increase in the crypto exchanges. Last week StableCoin Giant Circle went to the stock exchange on the New York Stock Exchange and saw her shares Pop over 168%which jumps from 31 to 69 US dollars within the first day of trading. Gemini, a crypto exchange that was founded by the Winklevoss -Zwillingen, too A IPO is stored On Friday, in another example of the crypto industry, more is intertwined with traditional finances.
“While the IPO bond is probably excited at short notice, long-term institutional positioning leads to being optimistic by 2025” Assets.
This story was originally on Fortune.com
