Bitcoin on the Rise as China Tariff Exemptions Give Stocks Relief
Bitcoin's price surpassed $95,000 for the first time since February, reaching $95,310, a nearly 2% increase. Investors reacted to President Trump's softened trade rhetoric towards China. Ethereum rose 2% to $1,800, while XRP fell 0.7% to $2.20. Trump mentioned ongoing discussions with Chinese President Xi Jinping, despite China's Commerce Ministry denying any trade negotiations. Beijing appeared to abandon retaliatory tariffs on certain U.S. semiconductors, which had been at 125%. U.S. stocks also surged, with the S&P 500 up 0.74% and the Nasdaq up 1.26%. Consumer sentiment remained low, revised higher but still down for four consecutive months. Concerns about ongoing uncertainty in U.S.-China relations persist, with experts indicating that clarity is needed for market stability.
