- The US and China cut tariffs, leading to Bitcoin’s price surge beyond $105K, signaling a bullish crypto trend.
- Bitcoin sees a 10% increase over the week following US-China tariff easing, raising market optimism.
- Bitcoin hits new highs as US and China agree to suspend tariffs, boosting crypto market sentiment.
Globally, the markets sent positive signals following the recently inked US-China trade deal, which saw the two nations agree to ease off tariffs on each other’s goods for an initial 90-day period on May 10, 2025. The agreement significantly affected the financial and crypto markets: Bitcoin’s price had skyrocketed, going past $105.000, and short squeezes of GameStop and Blackberry were already over.
Tariff Reduction Marks a Shift in US-China Relations
The new trade deal the US struck with China is a step towards relieving the strains that have been the order of the day in global trade for several years. The US has committed to halving tariffs on Chinese imports from 145% to 30%, and China has also lowered tariffs on US imports from 125% to 10%. After both nations saw the significance of a sustainable and mutually beneficial economic partnership, this historic deal was announced.
Recently, at a conference in Geneva, the US Treasury’s Scott Bessent discussed the significance of the deal. He stressed that the two countries were interested in preserving the trade connection and preventing economic decoupling, and that past taxes had worsened. The deal will create an even trade relationship between the two global economic giants and encourage more open communication between the two economies.
Crypto Market Responds with Bullish Momentum, Bitcoin Hits $105K
After the news about the tariff-easing deal came out, the cryptocurrency market experienced solid positive movement. Bitcoin’s price increased to $105,000, setting another record in the recovery path. The latest news puts Bitcoin at around $102,550, holding steady from a 10% rise last week.
This growth has brought optimism to the larger crypto market, with Ethereum and XRP having made outstanding gains. Over the last week, Ethereum increased 41%, and Ripple grew 12%. With the market already bullish after the US-China deal, the total crypto market capitalization received an extra boost, jumping 1.82% to reach $3.37 trillion from $3.32 trillion in under 24 hours.
Analysts are optimistic that the agreement can create a new, stabilized trading environment in conventional and digital markets. The deal relieves the pressure of tariffs and supports international economic cooperation, strengthening bullish tendencies in Bitcoin and other cryptocurrencies.
The relaxing of tariffs and the seemingly comical market fluctuations that followed are timely benefits to Bitcoin and the cryptocurrency sphere. This development might be the beginning of many good things to come in digital assets, especially as trade ties between the US and China further develop in the months ahead.
