Bitcoin Price Surpasses $104K Ahead of U.S.-China Trade Talks on June 9th
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Bitcoin price has recovered from intraday lows and surpassed the $104,000 mark after the US and China reached an agreement to launch a new round of trade talks. Both US President Donald Trump and Chinese President Xi Jinping confirmed the news in a phone call earlier today. Trump said on Truth Social that the meeting will be productive and looks forward to better results.
High-Stakes Trade Meeting in London
Top US and Chinese officials are set to meet on June 9 in London to discuss critical trade issues, including tariffs, technology exports, and rare earth materials. The talks will include US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer.
While past discussions, such as those in Geneva, have led to a temporary easing of tariffs, deeper concerns persist. China remains frustrated by US policies limiting student visas and advising chipmakers to restrict business with Chinese firms. Beijing also accuses Washington of stalling efforts to export essential materials used in advanced technology.
Crypto Market Rises Amid Economic Uncertainty
Amid these tensions, the cryptocurrency market is showing notable strength. Bitcoin recently surged past $104,000, with Ethereum also holding strong gains. Data from analytics firm Santiment shows a growing number of crypto holders, now at 55 million for Bitcoin and 148 million for Ethereum, suggesting increased investor interest in digital assets during uncertain economic times.
This optimism is being driven by a mix of global uncertainty and growing belief in crypto as a hedge against traditional market instability.
Interest Rates and the Crypto Boom
Moreover, Trump’s aggressive push for the Federal Reserve to cut interest rates is also affecting crypto. Historically, when interest rates go down, people often look for new places to invest their money, and crypto becomes one of those options. With inflation still hanging around and global tensions rising, more investors see digital assets as a safe backup plan.
Even though prices jump up and down, the mood in the crypto world is getting more optimistic.
