Bitcoin rebounds past $104K after Trump and Xi agree to restart U.S.-China trade talks, easing investor concerns and boosting market sentiment.
Following the agreement between the United States and China to commence new trade negotiations, the Bitcoin price has rebounded from its intraday low and surpassed the $104,000 threshold.
This development was verified by both US President Donald Trump and XI Jinping following their call earlier today.
Bitcoin Rebounds Above $104,000 After Trump, Xi Agree
Following President Trump and XI’s announcement of new trade negotiations, the flagship crypto has rebounded above the psychological price level, according to CoinMarketCap data.
Market uncertainty stemming from tariffs and other macro fundamentals had caused BTC to plummet to as low as $103,944 on the day.
Nevertheless, Bitcoin has regained its previous high of $104,000 and is now aspiring to reach the $105,000 mark, as the recent agreement between the United States and China has provided some respite to market participants.
Trump declared in a Truth Social post that the call between him and Xi had resulted in a “very positive conclusion” for both countries.
He also announced that their respective squads will convene at an undisclosed location shortly.
The United States will be represented at this meeting by US Trade Representative Jamieson Greer, US Treasury Secretary Scott Bessent, and US Commerce Secretary Howard Lutnick.
President XI also verified in a CCTV report that both countries have agreed to a new round of trade talks, as reported by Walter.
It is important to note that the Bitcoin price experienced a significant decline last week following Donald Trump’s announcement that China violated the agreement the two countries had reached in Geneva in May.
This elicited a bearish sentiment among traders, who were apprehensive that the announcement would further exacerbate trade tensions between the two nations.
Nevertheless, the United States extended the tariff pause on certain Chinese products on June 3, relieved the market.
Bitcoin price surged above $106,000 after the report.
