Bitcoin has surged to $97,500 after the US and China confirmed they will restart formal trade negotiations this week. This marks the first official meeting between the two superpowers since President Donald Trump returned to office and imposed new tariffs on Chinese imports.
The crypto market responded to this news immediately. Ethereum surged above $1,800 in the space of 3 hours of the announcement. Other altcoins also joined the bullish rally—Ripple was up by 1% to $2.15, Cardano increased by 3% to $0.679, and Dogecoin was up by 1.5% to $0.1721.
Experts said that the market rally is due to the hope that the conflict between the US and China will be resolved soon and thus the global economic risk will decrease.
The head of the American delegation will be the US Treasury Secretary Scott Bessent and the head of the delegation from Beijing will be China’s Vice Premier He Lifeng. These discussions are expected to happen later this week in Switzerland.
The Chinese Foreign Ministry officially stated that He, the vice premier, will meet with Bessent to discuss trade. The US side also confirmed that Greer would sit down with his Chinese counterpart to discuss the trade issue further.
If the negotiations are positive, analysts say the crypto and stock markets can improve further. Investors are watching closely. With global tension easing, Bitcoin remains sensitive to positive changes in the global market environment.
Also Read: Binance’s CZ Predicts Bitcoin Price Boom: $500k to $1M in Sight
