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Bitcoin Surges Past $97K Amid U.S.-China Trade Deal Optimism - Cryptured.com
Scott Bessent, the Treasury Secretary, is traveling to Switzerland to meet with Chinese officials.
What to Know:
On Wednesday night, risky assets, including cryptocurrency, are rising in anticipation of a trade agreement between the United States and China.
Over the past two hours, Bitcoin has increased by almost 3%, surpassing $97,000.
“We don’t want to decouple, but the current trade barriers and tariffs are unsustainable,” said U.S. Treasury Secretary Scott Bessent.
Since Wednesday’s closing of the U.S. stock market, risk assets have increased due to a warming in the trade posture of both the U.S. and China.
“We don’t want to decouple,” U.S. Treasury Secretary Scott Bessent stated as he announced intentions to visit Switzerland this weekend to hold trade negotiations with Chinese counterparts. “The current tariffs and trade barriers are unsustainable.”
A spokesman for the China Ministry of Commerce said that senior U.S. officials have made clear in a series of statements that they would want to engage with the Chinese side about issues linked to tariffs.
China has weighed the demands of the global community, its own interests, and the demands of American industry and consumers before agreeing to engage with the United States in response to these U.S. observations.
Bitcoin (BTC) has risen significantly by almost three percent to $97,200 as a result of the news. The Nasdaq 100 and S&P 500 futures have risen by over 1%.