Bitcoin surged above $105,000 on Monday, driven by growing optimism around U.S.-China trade talks and increasing interest in the broader cryptocurrency market.
As of midday trading (IST), the world’s leading cryptocurrency was hovering around $103,914 after touching an intraday high of $105,039.
Global financial markets also reacted positively to reports that the U.S. may reduce tariffs on Chinese imports. Although no deal has been finalised, hopes of a rollback to earlier levels are raising expectations that a global recession might be avoided.
The market is still bullish, especially with a possible U.S.-China trade deal on the way,” said Vikram Subburaj, CEO of Giottus Crypto Platform. “If Bitcoin stays above $105,000, it could hit new highs soon.”
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Crypto News
Crypto prices today: Bitcoin tops $105K on US-China trade optimism; Altcoins mixed
Reuters
Market sentiment remains optimistic amid expectations that the U.S. may reduce tariffs on Chinese imports.
Synopsis
Bitcoin price increased beyond $105,000. This rise happened because of positive news about trade between the U.S. and China. More people are also interested in cryptocurrencies. The value of all cryptocurrencies is now $3.46 trillion. Some experts think Bitcoin might go even higher. Others suggest a possible slight drop in price soon. Altcoins showed mixed performance.
By ETMarkets.com
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May 12, 2025, 12:59:00 PM IST
Bitcoin surged above $105,000 on Monday, driven by growing optimism around U.S.-China trade talks and increasing interest in the broader cryptocurrency market.
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As of midday trading (IST), the world’s leading cryptocurrency was hovering around $103,914 after touching an intraday high of $105,039.
Global financial markets also reacted positively to reports that the U.S. may reduce tariffs on Chinese imports. Although no deal has been finalised, hopes of a rollback to earlier levels are raising expectations that a global recession might be avoided.
“The market is still bullish, especially with a possible U.S.-China trade deal on the way,” said Vikram Subburaj, CEO of Giottus Crypto Platform. “If Bitcoin stays above $105,000, it could hit new highs soon.”
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Ethereum220,436 (3.52%)BuyXRP207 (2.34%)BuyBitcoin8,948,683 (1.07%)BuyBNB56,509 (0.8%)BuyTether85 (-0.7%)Buy
Bitcoin’s market capitalisation rose to $2.067 trillion, with daily trading volume increasing 4% to $46.32 billion. The overall cryptocurrency market cap now stands at $3.46 trillion, though it slipped slightly by 2% in the past 24 hours.
Technical analysts say Bitcoin is gaining strong upward momentum. Piyush Walke, Analyst at Delta Exchange, pointed out that Bitcoin recently broke out of a bullish chart pattern. “If the breakout holds, Bitcoin could rise to $115,600,” he said, while noting that resistance could emerge near the $107,000 level.
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