The price of bitcoin (BTC) once again exceeded $110,000 this Thursday, driven by the trade agreement reached between the United States and China following the meeting between Presidents Donald Trump and Xi Jinping in Busan, South Korea.
The digital currency rebounded strongly after a momentary drop below $108,000, and managed to recover the lost ground in a matter of hours. The graph below shows a sustained recovery that coincides with the publication of the bilateral agreements reached during the meeting.
President Trump advertisement a reduction in tariffs on Chinese imports, from 57% to 47%, in exchange for Beijing tightening control over fentanyl trafficking and resuming the purchase of American agricultural products. China, for its part, suspended restrictions on the export of rare earths for one yeara key input for the technology and defense industry.
However, a message Trump’s post on his Truth Social social network has generated concern among investors: the president instructed the War Department to resume nuclear testing, which introduced some volatility into the markets.
Despite this, bitcoin’s rally reflects renewed global optimism. With the price stabilized around $110,000, operators seem to be leaning towards a scenario of less economic friction, although geopolitical uncertainty persists.