Bitcoin (BTC) rises and maintains a level above $104,000 this Monday (12) with the easing of the trade war between China and the United States. Among the largest cryptocurrencies in the world, the sentiment is also positive, with price jumps of over 4%.
In the traditional market, Wall Street futures and European stocks are also up, following the positive close of Asian markets.
The week began with the joint announcement of a trade agreement between the United States and China, which established a 90-day truce in the trade war between the countries.
Thus, there was a reduction of US tariffs to 10%, maintaining a 20% tariff related to the alleged flow of fentanyl coming from China. The Asian country also lowered tariffs on American imports to 10%.
This truce partially reverses the escalation of the trade war, which had resulted in significant tariff increases (145% by the US and 125% by China) and impacted global trade. It is expected that the relief in rates will contribute to the recovery of long-term losses.
