The announcement by U.S. President Donald Trump regarding a trade agreement with China, along with the release of U.S. inflation data, triggered an immediate reaction in the Bitcoin market, despite the ambiguity surrounding some details of the agreement.
Trump explained via his platform Truth Social that the agreement has reached its final stages, indicating a total tariff of 55%, without clarifying the nature of the announced rate on the U.S., raising questions among followers and investors.
It also indicated the continued flow of Chinese students to American universities, implying an improvement in bilateral relations.
The agreement was reached following brief talks that began in London, awaiting official approval from Presidents Xi Jinping and Donald Trump, and it seems that the U.S. side is generally satisfied with the outcomes of the talks.
In the economic context, data from the U.S. Consumer Price Index for May showed an annual inflation rate of 2.4%, with a slight monthly increase of 0.1%, results that came in below expectations, easing concerns about the immediate impact of tariffs on the U.S. economy.
In conjunction with these developments, the price of Bitcoin rose by about $1,000 to approach $110,000, before stabilizing near the upper limit of its price range, without a clear breach of this level.
The rapid reaction reflects the market's sensitivity to major geopolitical and economic events, despite the limited momentum following this initial rise.
