US-China trade deal could shed light on Bitcoin’s use case: Trader

By: the crypto news wire|2025/05/12 13:15:06

If the trade uncertainty was driving Bitcoin momentum, it should stop outperforming once a trade deal is announced, says an analyst. Bitcoin’s potential price reaction to a trade deal between the United States and China could give insights into whether Bitcoin is being used as a safe-haven asset in the current market. Bitcoin ( BTC ) outperformed stocks and held up “incredibly strong” during a sharp sell-off on stock markets in April, following Donald Trump’s announcement of tariffs on “Liberation Day,” observed crypto trader “Daan Crypto” on May 11. Following its plunge to $75,000 on April 7, Bitcoin recovered strongly to trade 27% higher at around $95,000 by the end of the month. Meanwhile, indexes like the S&P 500 and Nasdaq declined in April. Read more

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Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...