US-China Tariff Tensions Ease, Bitcoin Jumps Past $105k

After months of tariff tensions, the latest US-China trade deal on Monday has sent shockwaves through the global crypto market. As both countries have agreed to a 90-day tariff suspension, the crypto community celebrates the development, anticipating a major rally ahead. In response to this significant development, Bitcoin has surged past the crucial $105k mark.

US Treasury Scott Bessent, speaking at the conference in Geneva, posited,

“We concluded that we have a shared interest. The consensus from both delegations is that neither side wanted a decoupling.”

US-China Trade Deal Eased: Bitcoin Skyrockets

Sparking optimism within the global crypto market, the US and China jointly agreed to a tariff-easing scheme. The US-China trade deal has taken a major turn with both countries agreeing to a 90-day suspension of tariffs on each other’s goods.

As per the latest development, the US will slash tariffs on Chinese imports from 145% to 30%, while China will reduce its import duties on American goods from 125% to 10%. Following this update, the BTC price rose to $105,000 and is now trading at $104,338.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.