$BTC The price of bitcoin falls after Trump's tariff agreement between the US and China

The price of bitcoin takes an unexpected downturn, although stocks rise following the announcement of the trade agreement between the US and China.

Bitcoin lags behind as investors shift towards stocks after an agreement between the US and China that could end the ongoing trade war.

Macroeconomic conditions are shifting away from investment in gold and back to stocks.

Bitcoin

BTC

reached its highest price in over three months at $105,720 on May 12, but failed to maintain its upward momentum. Interestingly, the drop to $102,000 occurred after a temporary easing in the tariff conflict between the US and China. This has left traders puzzled as to why Bitcoin reacted negatively to what seemed like a positive development.

The 90-day truce reduced import tariffs, and US Treasury Secretary Scott Bessent noted that the agreement could be extended, as long as there is a genuine effort and constructive dialogue. According to Yahoo Finance, the topics under discussion include "currency manipulation," "steel price dumping," and restrictions on semiconductor exports.

Additionally, Bitcoin has now surpassed the market capitalization of both silver and Google, becoming the sixth largest tradable asset in the world.