The world’s largest cryptocurrency rose 3.2% to $97,500 this morning in Singapore, while second-placed cryptocurrency Ethereum rose 4.2%. The positive dynamics were triggered by news of upcoming US-China trade talks.
Image source: André François McKenzie / unsplash.com
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with the Chinese government in Switzerland this week, giving investors hope that the world’s two largest economies can reach an agreement to ease trade tensions. The conflict between India and Pakistan has entered an active phase, but traders seem to be ignoring it.
Image Source: Bloomberg.com
Investors’ interest in risky assets is growing, experts surveyed by Bloomberg indicate, and this is due to the resumption of the US-China trade dialogue. Global stocks are growing, gold is falling, and the dollar is showing a slight increase – these are classic conditions for buying risky assets and a favorable environment for cryptocurrency markets. Bitcoin reached a record price of $109,241 in January amid optimism about the cryptocurrency policy of US President Donald Trump – he had previously been skeptical about digital assets, but by the time he returned to office, he had changed his position. A further decline in Bitcoin was caused by his policy of tariffs on imported goods to the United States.