🇨🇳🇺🇸China and the United States will meet this Monday in London, is the Bitcoin price approaching a rally?🇨🇳🇺🇸
Authorities in Washington and Beijing will clash again. Bitcoin's price could recover in the coming days.
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Authorities from the People's Republic of China and the United States will begin new negotiations next Monday, June 9. This is a new attempt to calm trade tensions between the world's two largest economic powers. The meeting will take place in London, according to US President Donald Trump.
In a post on the social media platform Truth, President Trump stated that he is hopeful that this upcoming meeting will yield positive results. The return to negotiations was recently decided following a phone call between the presidents of the two powers, Donald Trump and his Chinese counterpart.
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It's worth remembering that last month, delegations from both nations met in Switzerland and reached agreements. Among them was the temporary elimination of all tariffs they had applied to each other through 2025. However, it didn't take long for both nations to accuse their counterparts of violating the terms of the agreement.
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Since then, tensions have resurfaced, causing disruptions in the financial markets. For example, the price of Bitcoin has retreated from near all-time highs and even came close to dropping below $100,000. Following recent events, such as the call between Trump and Xi, the largest cryptocurrency is regaining strength in the market.
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The same can be said of Wall Street's main benchmark indices, which closed positively this Friday, all above +1%.
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