BTC stabilizes around 103.000$ amid trade optimism and increased institutional demand.

The price of Bitcoin (BTC) stabilizes around 103.000$ after facing multiple rejections at the key resistance level of 105.000$ throughout the week. Risk sentiment prevails, driven by global trade agreements between the United States (U.S.) and other countries, strong corporate accumulation, and inflows into spot exchange-traded funds (ETFs). However, traders should be cautious as the bankrupt exchange FTX announces its second round of refunds, which would inject volatility into the cryptocurrency market.

Global markets were boosted this week by significant trade developments and cooling inflation data from the U.S.

The U.S. and China agreed to a 90-day tariff reduction deal, lowering U.S. tariffs on Chinese goods from 145% to 30%, and Chinese tariffs on U.S. goods from 125% to 10%. The agreement followed high-level talks in Geneva, led by U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, along with Chinese Vice Premier He Lifeng.

A trade agreement between the U.S. and the United Kingdom was also announced last week. Both agreements show signs of easing tensions and uncertainty over global trade tariffs, increasing investor confidence and risk sentiment towards risk assets like Bitcoin.

This week's QCP capital report highlighted a reversal in tariffs and the emergence of a new wave of risk sentiment driven by an unexpectedly bullish turn in U.S. trade diplomacy.

On Tuesday, Washington signed a historic $600 billion trade pact with Saudi Arabia.

During the same period, U.S. Consumer Price Index (CPI) data came in below expectations.