Bitcoin(BTC)
$ 96,641 surged, testing the $97,000 threshold in Asian markets. This movement follows the announcement of the first meeting between U.S. and China trade officials in Switzerland over the weekend. Bitcoin rose by 2.8% in the last 24 hours, reaching $96,858. Meanwhile, Ethereum(ETH) 
$ 1,833 increased by 1.6%, trading at $1,827. The ongoing tensions between India and Pakistan continue to introduce volatility into the markets.
U.S.-China Talks Revitalize Markets
U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer announced that the meeting in Switzerland aims to rebalance the global trade system in favor of the U.S. This event marks the first direct contact between the parties since 2018. The announcement has sparked hope for alleviating tensions from the ongoing trade war.
Peter Chung, research director at Presto Research, expressed that the news strengthens the belief in easing trade disputes and places the market in a risk-on mode. Meanwhile, safe-haven assets like gold saw value depreciation as Nasdaq futures and Bitcoin showed upward trends. Jupiter Zheng, a partner at Hashkey Capital, also noted the potential for further revitalization of stocks and Bitcoin if economic recovery news emerges.
Fluctuations in Asian Markets
Asian stock exchanges mirrored Bitcoin’s response to rising risk appetite. The Hong Kong Hang Seng Index led with a 1.7% increase, while China’s CSI 300 closed the day up by 0.57%. In response, the People’s Bank of China reduced the interest rate from 1.5% to 1.4% and reviewed its tools against challenging economic uncertainties. In Japan, the Nikkei 225 slipped by 0.12%, but the Topix index advanced by 0.27%. Meanwhile, South Korea’s Kospiclimbed 0.36%. In contrast, major U.S. indices ended their latest trading sessions with declines. The S&P 500 lost 0.77%, the Dow Jones Industrial Average fell by 0.95%, and the Nasdaq Composite dropped 0.87%.
