US-China News and Weekend Rally in Cryptocurrencies: Bitcoin Reached 105K! - Coin Bulletin

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In the early evening hours in the US, cryptocurrency prices rose due to positive macro developments; while macro steps positively affected the market, the price of Bitcoin approached the 105,000 dollar level.

The cryptocurrency bull movement continued over the weekend, influenced by three positive macro developments. Bitcoin (BTC) price approached $105,000, its highest level since the end of January, while Ethereum (ETH) outperformed other cryptocurrencies with a 7.7% increase in the last 24 hours.

The biggest factor in this rise in the market has been the post made by U.S. President Donald Trump on his Truth Social account regarding the U.S.-China trade talks held in Switzerland. Trump stated in his post, "Today was a very good meeting. Many things were discussed, and a lot was agreed upon. A complete reset was negotiated in a friendly but constructive manner. For the good of both China and the U.S., we want to see China open up to American businesses. GREAT PROGRESS HAS BEEN MADE!!!"

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Easing of geopolitical tensions

Early on Saturday, Trump also announced that a "full and immediate" ceasefire had been declared in the escalating war between India and Pakistan. This development was regarded as an important factor that increased risk appetite in global markets.

The news that completed the trio of positive developments was Russian President Putin stating that he is "ready for serious negotiations" with Ukraine and proposing that "unconditional" talks be held in Turkey next week. These statements strengthened expectations that global geopolitical risks would decrease.

Bitcoin and Ethereum are on the rise

Due to these positive macro developments, the price of Bitcoin peaked just a few dollars shy of 105,000 dollars, experiencing a slight correction and currently trading at the level of 104,500 dollars. In the last 24 hours, BTC has gained 1.5% in value, while ETH has risen by 7.7% in the same time frame, continuing its strong performance recently.

This rising trend in the cryptocurrency market is supported by the reduction of global geopolitical risks and particularly the signals of improvement in trade relations between the US and China. Experts indicate that if the positive atmosphere in the market continues, Bitcoin could test new record levels.

Finally, the U.S. reducing tariffs on China from %145 to %30 for 90 days has led to a renewed increase in prices.