Bitcoin Reclaims $96,300 as Risk Appetite Grows
The United States and China are set to resume bilateral talks in Switzerland this week, driving optimism.
Quick overview
- The cryptocurrency market is experiencing strong gains, driven by renewed risk appetite amid easing trade tensions.
- Bitcoin has risen 3% to over $96,300, while Ethereum has increased nearly 3.2%, with total market capitalization nearing $3 trillion.
- Major altcoins like XRP, Solana, Cardano, and Dogecoin are also seeing gains, although Tron is experiencing a minor decline.
- Optimism surrounding U.S.-China trade talks is a key factor in this market rally, despite the Federal Reserve's cautious stance on economic impacts.
Live BTC/USD Chart
The cryptocurrency market kicked off the week with strong gains, fueled by a renewed appetite for risk amid signs of easing trade tensions.
Bitcoin (BTC) is up 3%, climbing above $96,300 on Binance, while Ethereum (ETH) has risen nearly 3.2%, consolidating above $1,800. The total crypto market capitalization has grown by around 2%, approaching the $3 trillion mark.
Major altcoins are also riding the wave of optimism. Tokens such as XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are posting gains between 1.1% and 2.9%. Only a few exceptions, like Tron (TRX), are showing minor declines, with no significant selling pressure.
Trade Optimism Drives Market Sentiment
One of the key drivers behind this rally is renewed optimism over international trade. The United States and China are set to resume bilateral talks in Switzerland this week. According to the U.S. government, Treasury Secretary Scott Bessent will meet with China’s top economic official He Lifeng, alongside trade negotiator Jamieson Greer, to discuss tariff-related issues. A spokesperson from China’s Ministry of Commerce confirmed Beijing’s willingness to engage, noting they’ve acknowledged Washington’s signals and are prepared for a constructive dialogue.
Market Outlook
In parallel, Bessent hinted at potential trade breakthroughs, telling Congress: “We could finalize trade agreements this week with some of our key partners.”
Despite this optimism, the Federal Reserve remains cautious amid political pressure. Fed Chair Jerome Powell has reiterated the need for more time to assess the real impact of tariffs on the economy, emphasizing the importance of not jeopardizing growth or price stability.
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