Earlier on Thursday, Bitcoin's trading price in Asia surpassed $99,000, as positive macroeconomic signals and continued institutional interest pushed the cryptocurrency towards the $100,000 resistance line.

"This is not just a psychological milestone, but a signal of the growing confidence." As of 1:40 AM Eastern Time, the cryptocurrency has since retreated to $98,938, having risen 2.64% in the past 24 hours. Bitcoin earlier climbed to a local high of $99,400.

"The rebound was initially triggered by headlines earlier on Wednesday during Asian hours regarding the resumption of US-China trade negotiations, which boosted overall market sentiment." US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet with Chinese officials in Switzerland this weekend, bringing hopes that the trade tensions between the world's two largest economies might be resolved.

On Wednesday, the Federal Open Market Committee (FOMC) kept US interest rates steady, and Jung noted that investors viewed this as a "signal to maintain a risk-on mode."

"Attention remains focused on trade headlines... Trump is scheduled to speak on significant trade agreements tomorrow at 10 AM Eastern Time, and any new developments could further drive market volatility."