Bitcoin Breaks $97K as U.S.-China Trade Dialogue Rekindles Risk-On Sentiment
Bitcoin rallied to over $97,000 on Wednesday after officials from both the United States and China signaled renewed willingness to reengage in trade negotiations, lifting sentiment across global markets.
U.S. Treasury Secretary Scott Bessent confirmed he will meet with Chinese counterparts this weekend in Switzerland, calling the current tariff regime “unsustainable” and stressing that the U.S. is aiming to rebalance — not sever — economic ties.
China’s Ministry of Commerce responded positively, citing U.S. efforts to recalibrate its approach and noting that the conditions are now favorable for constructive trade talks.
The crypto market responded quickly. Bitcoin jumped 3% to $97,200, while equity futures also advanced, with the Nasdaq 100 and S&P 500 gaining nearly 1%. Analysts say the diplomatic overture reduced near-term macro risk, encouraging a broader risk-on rally.
