Trading King
06/12 05:49
Bitcoin got another tailwind from geopolitics. Former U.S. President Donald Trump announced via Truth Social that a long-awaited trade agreement with China has been finalized, pending only President Xi Jinping’s approval. The deal reportedly includes a rollback of select export tariffs and was confirmed by both nations’ commerce officials.
In response to this, the BTC/USD pair surged to an intraday high of $110,300 ahead of pulling back to around $109,560. This follows months of volatility sparked by Trump’s earlier tariff threats, which had briefly driven BTC down to $74,434.The conclusion of the deal eased macro risk, lifting sentiment in both equity and crypto markets. Analysts suggest that reduced global trade friction could serve as a catalyst for Bitcoin to retest and potentially surpass its all-time highs, especially if macroeconomic stability continue
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