The Bitcoin surged past $97,000 after a 3% increase, driven by the announcement of upcoming trade talks between the US and China.
The US Treasury Secretary will meet with Chinese representatives in Switzerland, showcasing a willingness for economic dialogue and compromise between the two countries.
Financial markets, including the Nasdaq 100 and the S&P 500, reacted positively, confirming a renewed appetite for risk in a still fragile yet promising atmosphere.
US and China Calm Down: Bitcoin Benefits
Risk markets catch their breath. Fueled by the announcement of future trade discussions between Washington and Beijing, Bitcoin jumped by 3% in a few hours, crossing the $97,000 mark from Tuesday night to Wednesday. A sudden rise that reflects investors’ sudden optimism towards a possible thaw in trade tensions between the two superpowers.
Washington Puts Peace on the Table
The signal came directly from the US Treasury Secretary, Scott Bessent, who confirmed his imminent departure to Switzerland to meet with Chinese representatives this weekend.
Referring to the simmering trade war affecting global exchanges for several years:
Current trade barriers are unsustainable, but we do not want decoupling.
China, on the other hand, responded in the same tone. In a statement, the Chinese Ministry of Commerce praised the US openness and confirmed its willingness to discuss, after fully considering global expectations, its own interests, and the calls from US industries and consumers.
Risk Assets React Swiftly
In the hours following the closure of Wall Street, the rebound was immediate. Bitcoin surged to $97,700, riding on the prospect of a reduction in trade barriers. Futures contracts on the Nasdaq 100 and the S&P 500 also rose by over 1%, illustrating investors’ renewed appetite for risk.
A Fragile yet Promising Environment of Trust
Although no concrete agreement has been signed yet, the expressed willingness of both sides to resume dialogue is enough, for now, to ease the markets. In an environment where every diplomatic shift can sway prices, cryptocurrencies continue to behave as leading indicators of the overall sentiment.
