A thawing in the trade stance from both the U.S. and China has sent risk assets higher in the hours since the U.S. stock market closed on Wednesday.
“The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” said U.S. Treasury Secretary Scott Bessent, disclosing plans to travel to Switzerland to meet with Chinese counterparts for trade talks this coming weekend.
“Senior U.S. officials have made a series of remarks hinting at adjustments to tariffs and have expressed, through various channels, a desire to engage with the Chinese side on tariff-related issues,” said a China Ministry of Commerce spokesperson. “China has carefully evaluated these messages from the U.S. side and, after fully considering global expectations, China’s own interests, and the appeals of American industries and consumers, has decided to agree to engage with the U.S.”
The news has quickly sent bitcoin (BTC) higher by about 3% to $97,200. Nasdaq 100 and S&P 500 futures have jumped about 1%.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the…
Bitcoin’s bearish momentum has since reached a cool-off state, as price maintains above the last…
Executive John Ameriks emphasized Vanguard's core view of the crypto sector hasn't changed, seeing the…
The recommendation is in line with other global asset managers like BlackRock and Bank of…
The Bitcoin market is experiencing a gradual trend reversal following weeks of prolonged price correction…
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets…