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

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

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

On Wednesday, the Federal Open Market Committee (FOMC) kept U.S. interest rates steady, with analysts suggesting that investors viewed this as a "signal to maintain a risk-on mode."

"People's attention remains focused on trade headlines... Trump is scheduled to speak about a significant trade agreement tomorrow morning at 10 AM Eastern Time, and any new developments could further drive market volatility."