Resumption of US-China Trade Discussions in London Sees Bitcoin (BTC) Value Skyrocket Past $107K

Bitcoin experienced a significant surge in Europe’s afternoon trading session, escalating over $107,000. Earlier in the day, the cryptocurrency was trading under $106,000, but a bull market brought the price up, liquidating approximately $60 million in short positions in just four hours. An unidentified investor, often referred to as a "whale," also bet heavily on Bitcoin on Hyperliquid, a popular decentralized exchange.

They deposited more than $5 million in USDC and immediately opened a long position with 20x leverage. However, this move doesn't seem to be directly linked to the price increase. The surge is more likely tied to renewed optimism regarding the US-China tariff negotiations. Both countries' delegations have arrived in London to discuss ways to solidify the fragile trade truce, with the US team led by Treasury Secretary Scott Bessent and the Chinese by Vice Premier He Lifeng.