Bitcoin's recent price surge might be a "bull trap" amid the ongoing US-China trade tensions, warns QCP Capital. The rally in Bitcoin and altcoins followed President Trump's decision to pause new tariffs, except for China, which could retaliate strongly. This potential counteraction might reverse the current market exuberance.

Additionally, China's gradual yuan devaluation could boost Bitcoin as investors seek alternatives to traditional assets. Despite this, experts caution that Bitcoin may not have reached a long-term price bottom yet. As always, investors should research thoroughly before making any decisions.