Cryptocurrencies, along with other risk-oriented assets, saw gains on Wednesday evening amid growing optimism surrounding a potential trade agreement between the U.S. and China.
Bitcoin led the rally, gaining around 3% over the past two hours and breaking above the $97,000 mark.
“We don’t want to decouple, but the current tariffs and trade restrictions can’t continue,” said U.S. Treasury Secretary Scott Bessent.
Signs of easing tensions between the two economic superpowers have helped drive markets higher since the U.S. stock exchange closed earlier in the day.
Bessent also revealed plans to meet with Chinese officials this weekend in Switzerland, aiming to advance ongoing trade negotiations.$ETH