Geneva, May 12 – The world was stunned by the official announcement from U.S. Treasury Secretary Scott Bessent, stating that the U.S. and China have reached an important trade agreement during a meeting in Geneva. This announcement was made directly by Bessent early Monday morning local time via the official White House website.
> "I am pleased to report that we have made substantial progress between the United States and China on this very important trade issue," said Bessent.
Although the details of the agreement have not been fully released, statements from the White House confirm that this agreement is a significant step towards stabilizing economic relations between the two superpowers.
U.S. Trade Representative Jamieson Greer added that this agreement was reached in a relatively short time—an indication that the differences between the two countries may not be as large as previously thought.
> "This agreement will help us work towards resolving the national emergency we are currently facing," said Greer.
Direct Impact on the Crypto Market: Bitcoin Soars!
This exciting news immediately impacted the digital asset market. The price of Bitcoin (BTC) surged sharply by 1.22% in the last 24 hours and is now at US$104,000, according to data from CoinMarketCap as of Monday (05/12).
This surge reflects positive sentiment from global investors regarding geopolitical stability and the potential for healthier economic growth.
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What Does This Mean for Crypto Investors?
Agreements between the two largest economies in the world usually bring a breath of fresh air to global markets, including crypto. Investors see this development as a signal that trade tensions, which have triggered high volatility, are easing.
With more stable conditions, the chances for adoption and growth of digital assets like Bitcoin could open up even wider.
