Bitcoin surges to $108,000 as top US and Chinese officials meet to discuss tariffs
Bitcoin jumped to $ 108,000 on Monday, after she was hovering near 105,000 dollars for most of the weekend, as senior US and Chinese officials are preparing to meet in London this week in the hope of saving a tense trade deal.
Bitcoin 2 % gained Monday, according to Binance, smoothly touched 108,900 dollars before falling a little. The stumbling block comes at a time when investors express optimism about the possibility of a solution to trade disputes between the United States and one of its largest commercial partners. Treasury Secretary Scott Payet and Chinese Deputy Prime Minister for Economic policy will lead to Living will lead their deaths in the negotiations that are expected to start on Monday and continue until Tuesday, according to what he said. New York Times.
This week’s talks are part of president Donald Trump’s campaign to force commercial partners to give up different demands by threatening to impose a major tariff on foreign imports. After Trump announced a comprehensive tariff policy in April that would affect almost all trading partners in the United States, the President authorized a 90 -day stand to allow time to negotiations.
However, the cessation of the customs tariff on China, which was raised to 145 %. This policy has sparked the reprisal fees of China and many investors have escaped from the American market, for fear of the consequences of a possible trade war. Bitcoin decreased to the lowest annual level of $ 75,000, as tensions escalated between countries.
After a summit in Geneva last month, Trump reflected its course and announced on May 12 that the United States and China had reached an agreement in which the two countries temporarily reduce the tariffs of definitions and are holding additional talks to reduce tensions. Bitcoin rose to the highest level ever at $ 111,000 on May 22, following the news of the deal.
But the truce did not last long. Trump accused China of reaching the deal on a dispute over Chinese exports of rare land magnets. Trump wrote about the social truth on May 30: “China, maybe not surprising to some, violated its agreement with us. A lot for being Mr. Nice!”
In an attempt to save the tense trade deal, Trump and Shi spoke on the phone for the first time since last week. After the 90 -minute call, Trump announced that senior officials from both countries will meet in London this week to resume negotiations.
Other factors that may contribute to increased bitcoin prices are an increase in subscriptions associated with encryption. Last week, StableCoin Giant Circle became public on the New York Stock Exchange and saw its shares more than 168 %, jumping from $ 31 to $ 69 during the first day of trading. Gemini, an exchange of TWINKVOSS Twins, is also offered to get a public subscription on Friday, in another example that the encryption industry has become more intertwined with traditional financing.
“While the public subscription stumbling block is possible in the short term, long -term institutional sites lead us to be optimistic about the continuous Bitcoin performance in 2025,” David Simer, CEO of Crypto Asset Management Assets told Crypto ASSET Management Assets. luck.
This story was originally shown on Fortune.com
2025-06-09 16:43:00
