Bitcoin (BTC) price soars above $97K on progress in US/China trade talks

Updated

May 7, 2025

Gambar Bitcoin (BTC) price soars above $97K on progress in US/China trade talks

Jakarta, Pintu News – Progress in trade talks between the United States and China has pushed riskier assets, including Bitcoin , to rise sharply on Wednesday evening, local time. Bitcoin recorded a gain of about 3% in the last two hours, surpassing $97,000, on hopes that a trade deal between the two major countries will be reached soon.

US/China Trade Progress Drives Rise in Risky Assets

The positive movement in the US and China trade talks has affected the overall risky asset market, including cryptocurrencies. Several senior US officials, including Treasury Secretary Scott Bessent, conveyed that the current tariffs and trade barriers are untenable.

Bessent revealed that he will be traveling to Switzerland later this week to meet with Chinese representatives to discuss the tariff issue. Hopes that the two countries would reach an agreement on the tariffs prompted a surge in the price of Bitcoin (BTC), which was previously hovering around $94,000, jumping nearly 3% to $97,200.

Statements from Chinese officials indicate that China has carefully assessed the message from the US side, and after considering global expectations as well as China’s domestic interests, they agreed to continue talks.

“After considering global expectations, China’s own interests, and requests from American industries and consumers, China decided to further engage with the US side,” said a spokesperson for China’s Ministry of Commerce.

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Market Reaction to Trade Talks

The market reaction to this development was quite swift, with Bitcoin (BTC) surging by more than 3%, reaching $97,200 in record time. In addition, US stocks also showed gains, with Nasdaq 100 and S&P 500 futures up around 1% each. The hope that trade tensions between the world’s two largest economies could ease provided considerable optimism in global markets, including in the cryptocurrency sector.

Bessent’s statement about the inability to continue with the existing tariff policy, but with a desire to stay connected with China, makes it clear that both major countries are aware of the impact the existing tariff policy is having on the global economy. If these talks continue with a positive outcome, there is potential for the market to move higher, both in the traditional and cryptocurrency sectors.

Future Prospects for Bitcoin and Other Risky Assets

The rise in Bitcoin price recorded in the past few hours gives an idea of how much influence trade talks have had on the risk asset market. Although there is still uncertainty in terms of reaching a concrete agreement, the optimism shown by the market reflects the hope that trade tensions may ease. In addition to Bitcoin (BTC), other assets have also shown positive movement, indicating that the market is starting to respond more optimistically to this development.

However, despite this positive sentiment, it is important to note that the volatility of the cryptocurrency market remains high, and any decisions in these trade negotiations could significantly affect prices. Therefore, market participants, including Bitcoin traders, should continue to monitor further developments regarding the US-China talks to determine their next move.

Conclusion

Bitcoin (BTC) price is showing strength again after surpassing $97,000, driven by positive developments in trade talks between the US and China. While there is growing optimism in the market, geopolitical tensions and trade policies that are still not entirely clear remain factors to watch.

Investors and crypto market participants will continue to monitor the outcome of these talks in the hope that it will have a positive impact on the price of Bitcoin and other risky assets.

Also Read: New Hampshire Becomes a Pioneer, Officially Keeping Bitcoin as a Reserve!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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