Tariff agreement in Switzerland between China and the U.S. is positive for Bitcoin

Following the trade agreement established between the U.S. and China, Bitcoin resumes its course above 100 thousand. Both powers began negotiations in Geneva, Switzerland. They agreed to reduce import tariffs for a period of 90 days, a significant de-escalation in the context of the trade war.

U.S. Treasury Secretary Scott Bessent stated: "U.S. tariffs on Chinese imports will now be reduced to 30% for 90 days, while Chinese tariffs on U.S. imports will be reduced to 10% for the same period of time." The pause began on May 14.

This tariff agreement has favored Bitcoin and the rest of the cryptocurrencies. The pioneering digital currency has seen a slight rebound in the last seven days that reinforces the upward trend observed since April.