$BTC

Bitcoin soars on news of US-China trade talks

Bitcoin shot up +3% on Wednesday morning, rising above $97,500! At its peak — $97,840, but by the time of writing, it slightly retreated to $97,000.

What happened? The US and China agreed to a meeting — US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with the Chinese in Switzerland later this week. Hopes for a deal between the two economic giants have boosted optimism in the markets! 🚀

Meanwhile, India announced targeted strikes on Pakistan, while Pakistan reported downing five Indian aircraft. But, according to Sean McNulty from FalconX Ltd, traders are not paying attention to this at all — the entire focus is on the negotiations. 🤷‍♂️

"There is active accumulation of Bitcoin on the rise — the market believes in a positive outcome from the meeting over the weekend," says McNulty.

Investors are also awaiting the Fed meeting — the interest rate decision will be announced on Wednesday. Forecast — no changes. 📈

"Today, there is a risk appetite in the market: trading news is pushing stock markets up, gold is losing ground, and the dollar is slightly rising.

📌In my opinion, Bitcoin will still make a correction in the coming week.