Bitcoin Hits $105k as U.S. Reaches Trade Deal with China

TL;DR

• BTC hit the $105k mark on Sunday as the recent rally continues.

• The positive performance comes after the United States reached a trade deal with China.

BTC Tops $105k and Could Rally Higher

The cryptocurrency market performed positively over the weekend, with Bitcoin and other major coins rallied higher. BTC, the leading cryptocurrency by market cap, hit the $105k level on Sunday, adding over 1% to its value. This is the first time BTC is hitting that level since February.

The rally comes after the United States reached a trade agreement with China after two days of high-level negotiations in Geneva. U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced this latest development on Sunday, adding that both countries will issue a joint statement on the Geneva trade talks later Monday.

The deal comes following weeks of trade war that saw the United States and China raise import tariffs above 100%.

BTC has slightly retraced and now trades at $103,851 per coin. With Bitcoin in the green, other major cryptocurrencies also performed well over the weekend. Ether, the second-largest cryptocurrency by market cap, hit the $2,600 level before retracing to now trade at $2,497. 

Dogecoin, Cardano, and XRP are all up 1% in the last 24 hours. Thanks to the positive performance, the total cryptocurrency market cap now stands at $3.33 trillion.