Bitcoin Surges Amid US-China Trade Deal Hopes

The price of Bitcoin rebounds from $75,000 to $95,000 in April and coincides with slipping stock markets. If BTC keeps outperforming like this, we can assume the tariffs have somewhere direct impact on the usage of Bitcoin- Daan Crypto Bitcoin had reportedly surpassed stocks and showed an uptrend at the time of the sell-off on stock markets last month, after the US President, Donald Trump, announced tariffs on Liberation Day. From a fall of $75,000 reported on April 7, the largest cryptocurrency rebounded to $95,000, a 27% surge by the end of April. At the same time, other indices such as the S&P 500 and the Nasdaq fell last month. A crypto trader, Daan Crypto, took the matter into the limelight and reported, “At that time, people were curious if Bitcoin’s relative strength came from the narrative that countries were utilizing Bitcoin to avoid tariffs.” Further, he added that if this trade uncertainty was the factor behind the outperformance of Bitcoin, it would come to a stop after hitting the most important deal, which includes China. Analysts Link Bitcoin’s Rally to Trade Uncertainty On May 11, the advancement of a trade deal between the US and China was confirmed by the White House, but no official agreement was publicized. The US Treasury Secretary Scott Bessent assured that the talks were productive and the details will be provided further. Daan further analyzed and reported that if BTC keeps outperforming like this, we can assume the tariffs have somewhere direct impact on the usage of Bitcoin. Some other analysts suggest that Bitcoin will surge if a trade deal persists, having potential rate cuts. A researcher at HashKey Capital, Jupiter Zheng, reported that a US-China trade deal could bring stability in global markets, and it will possibly drive investors to have growth opportunities and invest in alternative assets. Also, BTC could hit a new all-time high as a result, mainly if the deal weakens the dollar or direct to renewed liquidity flows into emerging markets. Another analyst, Will Clemente, mentioned that only a robust announcement of a trade deal can maintain this momentum. Highlighted Crypto News Today: Metaplanet Surpasses El Salvador in Bitcoin Holdings with $129M Purchase Source: https://thenewscrypto.com/bitcoin-surges-amid-us-china-trade-deal-hopes-and-stock-market-sell-off/