Treasury Secretary Scott Bessent to Meet Chinese Officials in Switzerland
Bitcoin $BTC
soared above $97,000 Wednesday evening, gaining roughly 3% in just two hours as renewed optimism surrounding U.S.-China trade talks lifted investor sentiment across risk assets.
A softening in trade rhetoric from both nations has markets hopeful. U.S. Treasury Secretary Scott Bessent announced plans to travel to Switzerland for high-level discussions with Chinese representatives this weekend.
> “The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” Bessent said, emphasizing the U.S. government’s preference for cooperation over economic separation.
The Chinese Ministry of Commerce responded positively, noting that senior U.S. officials have shown interest in adjusting tariffs and re-engaging in talks. “After fully considering global expectations, China’s own interests, and the appeals of American industries and consumers, China has decided to agree to engage with the U.S.,” said a ministry spokesperson.
The developments quickly sparked a rally in risk assets. Bitcoin jumped to $97,200, while Nasdaq 100 and S&P 500 futures climbed around 1%.
As the global market watches these diplomatic efforts closely, any further signs of easing tensions could provide even more fuel for Bitcoin’s upward trajectory.
