On May 7, 2025, the price of Bitcoin (BTC) surged to $97,200, hitting a multi-month high due to market optimism regarding the resumption of trade talks between China and the U.S.
• The U.S. Treasury Secretary stated that he will meet with Chinese officials in Switzerland this week for trade discussions.
• The Chinese Ministry of Commerce confirmed: After evaluating national interests and the requests of U.S. companies, it has decided to participate in a new round of negotiations.
Analysts believe that if negotiations progress smoothly, Bitcoin is expected to challenge the $99,900 region, but this price point is also a strong resistance area, according to on-chain data analysis (Glassnode).
