A warming trade relationship between the United States and China supported a rally in risk assets after the close of the U.S. stock market on Wednesday, CoinDesk reports.
US Treasury Secretary Scott Bessent said current tariffs and trade barriers are "unsustainable" but the US is not seeking a break with China. He said he plans to travel to Switzerland for talks with Chinese counterparts this weekend.
A spokesman for China's Ministry of Commerce noted that senior U.S. officials had recently hinted at possible tariff adjustments and expressed willingness to discuss the issues with China through various diplomatic channels. "China has carefully assessed these signals based on global expectations, national interests, and the demands of American businesses and consumers, and has agreed to negotiate with the U.S.," the spokesman said.
Against this backdrop, Bitcoin (BTC) rose by about 3% to $97,200, while Nasdaq 100 and S&P 500 futures added about 1%.
