{"id":23882,"date":"2025-05-12T12:39:48","date_gmt":"2025-05-12T09:39:48","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-tests-105000-amid-us-china-trade-deal\/"},"modified":"2025-05-12T12:39:48","modified_gmt":"2025-05-12T09:39:48","slug":"bitcoin-tests-105000-amid-us-china-trade-deal","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-tests-105000-amid-us-china-trade-deal\/","title":{"rendered":"Bitcoin Tests $105,000 Amid US-China Trade Deal"},"content":{"rendered":"<p>The price of the leading cryptocurrency briefly surged to $105,700, before a subsequent correction brought it back to around $104,500.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-05-12_12-35-16-1024x619.png\" alt=\"BTCUSD_2025-05-12_12-35-16\" class=\"wp-image-258487\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-05-12_12-35-16-1024x619.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-05-12_12-35-16-300x181.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-05-12_12-35-16-768x464.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSD_2025-05-12_12-35-16.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USD chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The sharp price movement in Bitcoin followed the US administration&#8217;s announcement of a 90-day &#8220;truce&#8221; in the trade war with China. The two nations agreed to mutually reduce tariffs for this period: the United States from 145% to 30%, and China from 125% to 10%.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: Treasury Secretary Scott Bessent announces a US-China deal for a 90-day tariff cut on goods from both nations <a href=\"https:\/\/t.co\/VvWOXWJS2x\">https:\/\/t.co\/VvWOXWJS2x<\/a> <a href=\"https:\/\/t.co\/K3BGElwzZ4\">pic.twitter.com\/K3BGElwzZ4<\/a><\/p>\n<p>\u2014 Bloomberg TV (@BloombergTV) <a href=\"https:\/\/twitter.com\/BloombergTV\/status\/1921837839227945079?ref_src=twsrc%5Etfw\">May 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Prior to the announcement of the Geneva negotiations&#8217; outcome, some experts speculated that the agreement could act as a catalyst for cryptocurrency growth.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We believe institutional investors are less hesitant to invest in Bitcoin and digital assets as trade uncertainty comes to an end and the likelihood of rate cuts increases,&#8221; said BTSE&#8217;s COO Jeff Mei in a comment to <a href=\"https:\/\/cointelegraph.com\/news\/us-trump-trade-deal-china-shed-light-bitcoin-safe-haven\">Cointelegraph<\/a>.<\/p>\n<\/blockquote>\n<p>Jupiter Zheng from HashKey Capital echoed this sentiment.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The US-China deal could signal stability in global markets, potentially prompting investors to seek growth opportunities and channel capital into alternative assets,&#8221; the analyst noted.<\/p>\n<\/blockquote>\n<p>Conversely, trader Daan Crypto anticipated a possible Bitcoin correction following the agreements between the world&#8217;s two largest economies.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> Has outperformed stocks since &#8220;Liberation&#8221; \/ Tariff Day on the 2nd of April.<\/p>\n<p>It held up incredibly strong during a sharp sell off on stocks in April.<\/p>\n<p>It then also proceeded to outperform as the markets bounced and tariffs were implemented.<\/p>\n<p>Back then people were wondering\u2026 <a href=\"https:\/\/t.co\/gfvfH80TVP\">pic.twitter.com\/gfvfH80TVP<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1921647844781629923?ref_src=twsrc%5Etfw\">May 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Theoretically, if trade uncertainty was what drove digital gold&#8217;s price up, the asset should stop appreciating after the US-China deal,&#8221; the expert explained.<\/p>\n<\/blockquote>\n<p>Vincent Liu, Investment Director at Kronos Research, told <a href=\"https:\/\/www.theblock.co\/post\/353892\/bitcoin-trades-near-104000-analyst-says-new-all-time-high-plausible\">The Block<\/a> that Bitcoin&#8217;s rise is supported by &#8220;strong technical momentum.&#8221; The cryptocurrency is trading above its 50- and 200-day moving averages, he explained.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Growing institutional adoption and a favorable outlook for 2025 suggest a possible path to another all-time high,&#8221; the expert added.<\/p>\n<\/blockquote>\n<p>However, BTC Markets analyst Rachel Lucas pointed out that Bitcoin&#8217;s relative strength index (RSI) indicates overbought conditions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This doesn&#8217;t necessarily mean an immediate reversal, but it increases the likelihood of some short-term cooling or sideways movement. Retesting and consolidating above the key psychological level of $100,000 would be a healthy development and could lay the groundwork for further growth,&#8221; she emphasized.<\/p>\n<\/blockquote>\n<p>Despite the short-term spike, the price of the leading cryptocurrency has remained largely unchanged over the past day. Some leading altcoins have shown better performance.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"582\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33-1024x582.jpg\" alt=\"Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33\" class=\"wp-image-258488\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33-1024x582.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33-300x171.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33-768x437.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-33.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>In terms of weekly growth, Dogecoin and Ethereum have outperformed digital gold by about four times, with the latter gaining around 10% over the period.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are witnessing a classic rotation as Bitcoin dominance reaches levels last seen before the 2021 bull market, and capital begins to flow into altcoins,&#8221; suggested Presto Research analyst Min Jung.<\/p>\n<\/blockquote>\n<p>As reported, Standard Chartered urged investors to buy the leading cryptocurrency and forecasted its price increase<a href=\"https:\/\/forklog.com\/en\/news\/standard-chartered-urges-bitcoin-investment\"> to $120,000<\/a> in the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the leading cryptocurrency briefly surged to $105,700, before a subsequent correction brought it back to around $104,500. 15-minute BTC\/USD chart on Binance. Data: TradingView. The sharp price movement in Bitcoin followed the US administration&#8217;s announcement of a 90-day &#8220;truce&#8221; in the trade war with China. The two nations agreed to mutually reduce [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-23882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23882"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23881"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}