US-China Trade Truce Spurs Bitcoin; Key Week of Events Looms
US-China Dialogue Spurs Immediate Market Reaction
Following the working-level discussions, which concluded Sunday in Kuala Lumpur, Malaysia, the US and China signaled that a framework agreement on major trade issues is nearing completion.
The two nations are considering a one-year delay in China’s export controls of rare earth materials, which is the primary point of recent friction. In return, the US is expected to hold off on imposing the threatened 100% additional tariffs on Chinese goods.
China also agreed to increase imports of US soybeans and agricultural products. In exchange, the US pledged to review the relaxation of specific export controls and the adjustment of port fees imposed on China.
Following the news, the Bitcoin price immediately rose by about 2%. As of Sunday 14:00 UTC, it was trading at $113,450, up 1.62% from the previous day.
The market reacted immediately to the news. This underscores the relief over resolving the 100% tariff threat, which had been a significant constraint on asset prices. Altcoins that had lagged due to geopolitical uncertainty, such as HYPE (+6.67%) and WLFI (+7.33%), also saw sharp increases.
As a result, Bitcoin surged by 6.07% over the past week, reclaiming the $113,000 level, with altcoins quickly following suit. According to CoinGecko data, Ethereum (ETH) climbed 4.52%, and Solana (SOL) gained 5.94%.
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