#TradeOfTheWeek Bitcoin$BTC surged close to $105,000 over the weekend, fueled by optimism around easing global tensions and breakthroughs in trade negotiations. The rally marked Bitcoin’s highest level since late January, with Ethereum $ETH also posting strong gains of 7.7% in 24 hours Key Drivers Behind the Rally
1. U.S.-China Trade Talks: A post from former President Donald Trump on Truth Social highlighted "GREAT PROGRESS" in trade discussions between the U.S. and China, including a potential "total reset" of relations. Trump$TRUMP described the talks as "friendly but constructive," with a focus on opening China to American businesses .
2. India-Pakistan Ceasefire: Earlier in the day, Trump announced a "full and immediate" ceasefire between India and Pakistan, easing fears of escalating conflict in the region .
3. Ukraine-Russia Diplomacy: Russian President Vladimir Putin signaled willingness to hold "serious talks without preconditions" with Ukraine, proposing a meeting in Turkey. The news further bolstered market sentiment . # Market Reaction
- Bitcoin (BTC): Briefly touched $104,990 before settling at $104,500, up 1.5% .
- Ethereum (ETH): Outperformed with a 7.7% jump, continuing its recent upward trend .
Analysts noted that the trio of macro developments reignited a "risk-on" appetite among investors, pulling capital back into crypto amid broader market stability .
### Looking Ahead
While Bitcoin’s dominance remains near multi-year highs, traders are watching for sustained momentum as institutional adoption grows and regulatory clarity improves .