$BTC

The price of Bitcoin has risen again amid hopes for a trade truce between the United States and China.

The price of the leading cryptocurrency surpassed $97,000 as investor appetite for riskier assets grew.

Bitcoin rose alongside Asian stocks, and the dollar strengthened following news of plans for trade talks between the U.S. and China.

The largest cryptocurrency gained about 3.2% to over $97,714 early Wednesday in Singapore, before trimming its gains. The second-largest cryptocurrency by market cap, Ethereum, rose about 4.2%.

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