Bitcoin Price Eyes $135K as US-China Trade Talks Fuel Bullish Surge

Bitcoin's price has just broken through the $104,000 barrier—and it's eyeing a new all-time high. That upward momentum...

Quick overview

  • Bitcoin's price has surpassed $104,000 and is aiming for a new all-time high, fueled by positive comments from former President Donald Trump regarding US-China trade talks.
  • Market optimism is rising as Trump's statements suggest a closer collaboration between the US and China, positively impacting Bitcoin and other markets.
  • Experts predict Bitcoin could reach between $112,000 and $135,000, driven by increasing interest from institutional investors and favorable technical indicators.
  • The next few weeks are crucial for the cryptocurrency market as Bitcoin's upward momentum continues to attract significant attention.

Bitcoin’s price has just broken through the $104,000 barrier—and it’s eyeing a new all-time high. That upward momentum started with a positive statement from former US President Donald Trump on May 10.

Trump shared his thoughts on the US-China trade talks via Truth Social, saying the meeting was “very good” and constructive. That optimism has spread to the markets—and the crypto space is feeling the effects.

Trump’s comments hinted at a future where the US and China work more closely together. That shift in tone, combined with expectations of a fruitful continuation of the talks, is giving markets—including Bitcoin—a boost. Trump’s statements aren’t just about trade relations, either. They’re also fuelling expectations for global markets.

Market experts are now predicting Bitcoin’s price will continue to rise. Nate Geraci, president of the ETF Store, says that’s because institutional investors are taking a close look at Bitcoin. Those big players could give the cryptocurrency a significant boost in the coming weeks. Geraci points out that Spot Bitcoin ETFs are becoming increasingly important. If institutional investors start allocating more money to those funds, it could add a lot of fuel to Bitcoin’s price action.

Bitcoin Price Chart - Source: Tradingview
Bitcoin Price Chart – Source: Tradingview

Several analysts think Bitcoin’s price could surge to as high as $135,000. Titan of Crypto, a well-known crypto analyst, says the MACD has flipped positively on the weekly chart. That’s a bullish crossover, and it suggests the overall market sentiment is strengthening. According to Titan, that could drive Bitcoin’s price up to $135,000.

Technical analysis suggests a breakout above $105,000 could send Bitcoin’s price towards the $112,000-$120,000 range. That’s where $120,000 comes in as the next major target. Many market experts see that upward trajectory as sustainable if the US-China talks continue to progress positively.

The coming weeks will be pivotal for the cryptocurrency market. Bitcoin’s price surge has already generated a lot of attention.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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