BTC price targets a new all-time high after Donald Trump’s statement on US-China trade war talks boosts market optimism.
The BTC price again anticipates a breakout to new all-time highs (ATHs). This time, a prospective agreement between the United States and China in the ongoing trade war negotiations will be the catalyst. The flagship cryptocurrency surged past $104,000 in response to Donald Trump’s declaration regarding the “positive meeting” between the two largest economies.
Donald Trump claims that the United States and China had a positive meeting
In a post on Truth Social, Trump reported that they had a positive meeting with China in Switzerland on May 10. He also observed that they engaged in various conversations and reached a consensus on numerous matters. He also stated that both parties engaged in a “constructive, yet friendly” negotiation to achieve a complete reset.
The president also expressed his desire for China to become more accessible to American businesses to benefit both the United States and China. Donald Trump once more confirmed that they have made significant strides.
His declaration coincides with CoinGape’s announcement that the initial round of trade negotiations between the United States and China concluded without an official announcement of an agreement. Therefore, both parties intend to proceed with trade negotiations on May 11, with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer serving as the American representatives.
It is important to note that the Bitcoin price exceeded the $104,000 resistance level in response to Trump’s statement. The president’s statement unquestionably instills confidence in the possibility of a swift agreement between the United States and China, which would benefit Bitcoin and other crypto assets.
Nate Geraci, the president of the ETF Store and a market expert, also provided his perspective on the BTC price action in response to Donald Trump’s statement. He observed that Bitcoin is approaching the $105,000 price point and may soon attempt to surpass its all-time high.
He declared that the flagship crypto’s performance is unquestionably on the radar of institutional investors and allocators in accordance with this. The expert expressed his keen interest in monitoring the Spot Bitcoin ETF transfers over the next few weeks, as they have the potential to be substantial.
Bitcoin’s price may soon register a new all-time high
The BTC price may shortly reach a new all-time high in response to Donald Trump’s statement, according to crypto analyst Titan of Crypto. He asserted in an X post that a Bitcoin bullish crossover is currently taking place. The analyst further stated that the MACD is becoming favorable on the weekly chart.
However, Titan of Crypto also disclosed that the momentum of BTC is changing, which could indicate the beginning of a more significant transition. His accompanying chart showed that the Bitcoin price could increase to as much as $135,000 due to this movement.
Additionally, a market analyst suggested that a BTC rally to $120,000 may be imminent. According to the analysis, a rally toward the $112,000–a breakout above $105,000 could initiate a $120,000 range.
