Bitcoin responded modestly but positively to the announcement of a major trade agreement between the United States and China, with its price climbing to $104,076.62, up 0.74% on the day.
The news of the potential deal, confirmed by U.S. Treasury Secretary Scott Bessent, followed two days of high-level negotiations in Geneva. Talks involved top officials from both nations and were described as “productive,” with more details expected during an official briefing tomorrow.
At the time of the announcement (around 8:30 PM UTC), Bitcoin was trading around $103,879.63, and soon after, it gained momentum, reaching $104,070 (around 8:55 PM). The market appears to be digesting the development as a sign of reduced macroeconomic uncertainty, which could benefit risk assets, including cryptocurrencies.
Although the move was relatively modest compared to historical crypto volatility, it underscores Bitcoin’s growing sensitivity to major geopolitical developments and economic policy shifts.
With the crypto market cap regaining ground and trade tensions easing, eyes are now on whether Bitcoin can challenge its all-time high set earlier this year.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/u-s-china-trade-deal-reportedly-announced-how-did-bitcoin-respond/