中美贸易谈判

Expectations for high-level trade talks between China and the United States heat up, Bitcoin surges to $97,000

On May 7, the price of Bitcoin reached an intraday and five-day high during Asian morning trading, hitting $97,700. This surge brought Bitcoin back to the level of May 2, when it faced resistance and fell below $94,000.

However, this increase saw BTC's price rise by nearly $4,000 within about 12 hours, but the momentum could not be sustained, and the price has now retreated to around $96,800. Nevertheless, Bitcoin still rose by 2.6% on the day, and market sentiment appears to be improving.

This surge seems to be driven by the planned high-level trade talks between the United States and China over the weekend in Switzerland. On May 6, the two countries announced plans for Treasury Secretary Scott Bessenett, Trade Representative Jamieson Greer, and the Chinese Vice Premier to hold trade negotiations in Geneva.

Bessenett stated on X: "Thanks to the President of the United States, the world has come to America, and China is the missing piece of the puzzle. We will hold meetings on Saturday and Sunday to discuss mutual interests."

Bessenett further pointed out that the current tariffs and trade barriers are "unsustainable," but both sides are not seeking "decoupling" but are committed to achieving fair trade. The Chinese Ministry of Commerce also confirmed the talks and emphasized that this is an important opportunity for preliminary negotiations regarding the removal of some tariffs, planning a way forward, and raising concerns.

In addition, the depreciation of the dollar has also boosted the Bitcoin and cryptocurrency market, with the dollar index accelerating its decline over the past week. However, despite the rise in Bitcoin, the total cryptocurrency market value remained flat at $3.09 trillion on the day.

Meanwhile, Ethereum briefly climbed to a high of $1,850 during the day but still faced significant resistance at this level that it failed to overcome in the past two weeks. Other altcoins also experienced slight increases of varying degrees.

What do you think? Is this rapid increase mainly attributed to the warming expectations of China-U.S. trade negotiations? Do you believe this upward trend will continue in the coming weeks? Feel free to leave a comment and let's chat!

#比特币 #中美贸易谈判 #加密货币

On the eve of the China-U.S. trade negotiations, is the price of Bitcoin expected to break through 100,000 dollars?

As the market's expectations for Bitcoin rise, especially with the upcoming China-U.S. trade negotiations this weekend, there is widespread attention on whether Bitcoin's price can break the 100,000 dollar mark in the short term.

As of now, the trading price of Bitcoin has exceeded 99,500 dollars, just one step away from the coveted 100,000 dollar milestone! In the past 24 hours, Bitcoin has risen nearly 2.9%, and this week it has increased by 4.7%, bringing considerable confidence to the market.

It is worth noting that the derivatives market is also cooling down. According to Coinglass data, the liquidation amount in the past 24 hours has decreased by over 7%, currently maintaining around 300 billion dollars, with short positions dominating the market trend. Additionally, Bitcoin's current market share has reached 65%, and the overall market sentiment has shifted from 'fear' to 'greed,' a change that undoubtedly reflects a resurgence of market confidence.

The main reason driving this trend in Bitcoin can be said to be influenced by macroeconomic factors. Foreign media reports suggest that the meeting between representatives of China and the U.S. this week will explore potential trade agreements, which will undoubtedly impact the trajectory of the global economy.

Meanwhile, the Federal Reserve has announced its decision to maintain the benchmark interest rate between 4.25% and 4.5%. Although this news initially caused a slight retreat in Bitcoin, as the market gradually stabilized, the decline has basically been offset by today's upward trend, indicating that investors are relatively optimistic about the future.

What impact do you think this China-U.S. trade negotiation will have on Bitcoin? Do you think it can really break through 100,000 dollars? Feel free to share your views in the comments section!

#比特币 #中美贸易谈判 #加密货币