Bitcoin jumps again amid hopes for a trade truce between the US and China

The price of the major cryptocurrency surpassed $97,000 as investor appetite for risky assets revived.

The cryptocurrency Bitcoin rose in tandem with Asian stock gains and a strengthening dollar, following news of plans for the United States and China to hold trade talks.

The largest cryptocurrency rose by nearly 3.2% to exceed the $97,714 mark on Wednesday morning in Singapore, before trimming its gains. The second-largest cryptocurrency by market capitalization, Ether, rose by as much as 4.2%.

Demand for bullish positions in the options market increased, with activity focused on call options at a strike price of $100,000, according to aggregated data from the Deribit platform, the world's largest cryptocurrency derivatives exchange.