Bitcoin jumped to $108,000 after hovering nearly $105,000 on Monday for most of the weekend, Bitcoin jumped to $108,000 after it hovered nearly $105,000 on Monday. Trade Agreement.
According to Bitcoin on Monday, 2% binanceBefore a slight fall, briefly touch $108,900. As investors express optimism about the potential for solutions, bumps will occur Trade disputes Between the United States and one of its largest trading partners. Finance Minister Scott Bessent and China’s Vice Prime Minister of Economic Policy He will lead their respective delegations negotiation according to New York Times.
The talks this week are part of President Donald Trump’s ongoing campaign, forcing U.S. trading partners to acknowledge demand by threatening to impose huge tariffs on foreign imports. Trump announces Clear tariff policy In April, this will affect nearly all U.S. trading partners, with the president authorizing a 90-day pause to allow time to negotiate.
However, the suspension does not include tariffs on China, which has been raised to 145%. The policy has sparked retaliation from China and has caused many investors to worry about the consequences of the potential trade war. Bitcoin fell to a low of $75,000 a year as tensions escalated between countries.
Trump reversed the course after a summit in Geneva last month and announced on May 12 that the United States and China have reached the protocol Two of the countries will temporarily lower tariffs and hold additional negotiations to ease tensions. After the deal was concluded, Bitcoin soared to $111,000 on May 22.
But the truce did not last long. Trump accused China of violating the agreement over disputes over China’s export of rare earth magnets. trump card Write On the social networking of truth on May 30: “China, perhaps not surprising to some, is totally contrary to our consent. So important, because being a good man!”
Trump and Xi Jinping spoke on the phone for the first time last week to save the wear-and-out trade deal. follow 90 minutes of callTrump announced that senior officials from both countries will hold resumption of negotiations in London this week.
Other factors that may lead to Bitcoin price increases are the increase in crypto-related IPOs. Last week, Stablecoin Giant Circle went public on the New York Stock Exchange and saw its shares More than 168%On the first day of the deal, it jumped from $31 to $69. Gemini, a crypto exchange founded by Winklevoss Twins, is also Apply for an IPO Friday, in another example of the interweaving of the cryptocurrency industry with traditional finance.
“While the IPO bump may be short-term excitement, the long-term institutional positioning puts us on bullish on Bitcoin’s continued performance in 2025,” David Siemer, CEO of crypto asset manager Wave Digital Assets, told him. wealth.
This story was originally fortune.com
