Bitcoin Skyrockets Past $108,000 Amid US-China Tariff Discussions
Bitcoin (BTC) surged past $108,000, reaching a peak of $108,900 on Monday, following a week of consolidation between $100,000 and $106,000. This increase is attributed to growing investor optimism regarding US-China trade negotiations aimed at resolving tensions and salvaging a fragile trade agreement. Key officials from both nations are engaged in discussions in London. The cryptocurrency gained 2% amid hopes for a resolution, recovering from a previous low of $75,000 due to trade war fears. Recent developments include a temporary agreement announced after a summit in Geneva, although tensions resurfaced with claims of violations by China. Additionally, increased activity in the cryptocurrency IPO market, including Circle's debut and Gemini's filing, may also be influencing Bitcoin's price. BTC is currently trading at $108,670, reflecting a 6% gain over the month and remaining close to its record high of $111,800 reached in May.
