Bitcoin Hits $97K as Trade Thaw Between U.S. and China Sparks Market Rally
Bitcoin surged past $97,000 on Wednesday after signs emerged that the U.S. and China are moving toward easing trade tensions, injecting renewed optimism into global markets.
The rally was triggered by news that U.S. Treasury Secretary Scott Bessent will travel to Switzerland for high-level talks with Chinese officials this weekend. “We’re not seeking economic decoupling, but a sustainable path forward,” Bessent said, signaling a shift toward cooperation.
China welcomed the initiative, citing encouraging signs from Washington and a mutual interest in resolving key trade issues. “We are open to meaningful dialogue that reflects the needs of both nations,” a Commerce Ministry spokesperson said.
Markets reacted swiftly. Bitcoin jumped 3% to $97,200, while Nasdaq 100 and S&P 500 futures climbed nearly 1%, reflecting investor relief that tensions may be cooling between the two economic giants.
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