On the morning of May 7, 2025, Bitcoin briefly rose above the $97,000 level during Asian trading sessions. This surge was influenced by several factors, including positive news about US-China trade discussions.
US-China Trade Talks
The Bitcoin rally coincided with official announcements from Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer regarding their planned meeting with Chinese counterparts in Switzerland. This marked the first meeting since President Donald Trump initiated a trade war against China, instilling optimism in the market.
Subsequent Market Position
After briefly exceeding $97,000, Bitcoin retreated slightly and is currently trading around $96,500. The rapid rise is illustrated in the chart, influenced by the positive news surrounding the trade talks.
Conclusion
Recent events indicate how geopolitical factors can impact the cryptocurrency market. Investors are focused on the potential strengthening of trade relations between the US and China.
The financial market situation remains dynamic, with investors closely monitoring the forthcoming discussions between the two nations.
