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BTC tops $105k as U.S. and China reach a trade deal
TL;DR
BTC Tops $105k and Could Rally Higher
The cryptocurrency market performed positively over the weekend, with Bitcoin and other major coins rallied higher. BTC, the leading cryptocurrency by market cap, hit the $105k level on Sunday, adding over 1% to its value. This is the first time BTC is hitting that level since February.
The rally comes after the United States reached a trade agreement with China after two days of high-level negotiations in Geneva. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced this latest development on Sunday, adding that both countries will issue a joint statement on the Geneva trade talks later Monday.
The deal comes following weeks of trade war that saw the United States and China raise import tariffs above 100%.
BTC has slightly retraced and now trades at $103,851 per coin. With Bitcoin in the green, other major cryptocurrencies also performed well over the weekend. Ether, the second-largest cryptocurrency by market cap, hit the $2,600 level before retracing to now trade at $2,497
Dogecoin, Cardano, and XRP are all up 1% in the last 24 hours. Thanks to the positive performance, the total cryptocurrency market cap now stands at $3.33 trillion.