$BTC $USDC The market has low expectations for trade negotiations between the U.S. and China

Despite the high-level meeting between U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng taking place in Switzerland from May 9 to May 12, investors remain cautious.

Polymarket - the blockchain-based prediction platform - records a probability of just under 30% for the possibility that both parties will reach a trade agreement before June.

The current instability stems from the U.S. increasing import tariffs on China by 145%, which led Beijing to respond with a 125% tariff on U.S. products. This tension has had a strong impact on financial markets, including cryptocurrencies.