Bitcoin Nears $100K as U.S.-China Trade Talks and State Crypto Reserves Fuel Market Optimism
Bitcoin (BTC) surged past $99,000 late Wednesday, marking a significant milestone in its 2025 bull run. As of 11:47 p.m. ET, BTC was trading at $99,027.83, edging closer to the psychologically crucial $100,000 mark.
FingerLakes1
Key Drivers Behind the Surge
1. U.S.-China Trade Talks: Investor sentiment improved following the announcement that U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to meet Chinese officials in Switzerland to discuss reducing trade tensions. Current tariffs, as high as 145% and 125% respectively, have strained economic stability.
Barron's
2. State-Level Crypto Adoption: New Hampshire became the first U.S. state to allow up to 5% of its reserves to be invested in digital assets and precious metals. This law, signed by Governor Kelly Ayotte, restricts such investments to cryptocurrencies with a market cap over $500 billion, effectively favoring Bitcoin.
Wikipedia
+3
Barron's
+3
Business Insider
+3
3. Federal Initiatives: President Donald Trump's executive order established a Strategic Bitcoin Reserve, repurposing forfeited bitcoins from criminal and civil cases, currently valued at over $17 billion, to build a federal reserve of digital currency. This move aims to position the U.S. as a global leader in digital assets.
Investopedia
+1
Wikipedia
+1
Market Reactions
The broader cryptocurrency market responded positively:
Barron's
Ethereum (ETH): Trading around $1,824.
YouTube
+2
Investor's Business Daily
+2
$CoinDCX
+2
$XRP XRP, AVAX, UNI: Experienced modest losses.
$CoinDesk 20 Index (CD20): Up just 0.3% over the same period.
Meanwhile, equities recovered modestly from earlier losses, with the S&P 500 and Nasdaq closing 0.4% and 0.3% higher, respectively.
Looking AheadWith Bitcoin approaching the $100,000 threshold, market analysts are optimistic about its trajectory. The combination of geopolitical developments, state-level adoption, and federal initiatives