Bitcoin Surges Past $104K, US-China Trade Discussion In View

The crypto market responded in time today to global socio-political trends, gaining 2% on a day President Trump of the United States announced progress in trade negotiations with China

Bitcoin (BTC) particularly soared beyond $104,900 gaining 2% even as major altcoins remained on upward trading trajectory

Ethereum climbed over 10% to $2,600 and Dogecoin surging 21% to nearly $0.25,  a development analysts related to global economic temperament as dictated by the strongest economies.

Agency reports tell there was progress in negotiations at Villa Saladin in Geneva, where Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng engaged in 10 hours of trade discussions.

The discussions were expected to continue today, an optimism that fuelled activities in the crypto market.

In a post on Truth Social, Trump said: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly but constructive manner.

“We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”

The statement marked the most optimistic signal yet in months of escalating trade tensions, prompting a swift response across financial markets, particularly in the cryptocurrency sector, which thrives in uncertain macroeconomic environments.

The U.S.-China trade war intensified when Trump raised tariffs on Chinese imports to 145% last month, prompting China’s retaliation with a 125% levy on American goods.

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These steep tariffs have significantly disrupted things in the crypto market, impacting $660 billion worth of transactions between the world’s two largest economies.

Trump’s tariff strategy also includes a 20% charge targeting China’s fentanyl exports to the U.S., while the remaining 125% levy stems from long-standing trade disputes over Chinese market access restrictions and industrial policies.

Financial markets have been on edge due to uncertainty over whether tariff reductions could be on the table, fueling speculation over potential economic easing between the two superpowers.

The crypto market, known for its sensitivity to global trade policies, reacted swiftly, with Bitcoin and Ethereum seeing major inflows as investors hedge against financial instability.