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Bitcoin price sells off after Trump’s US-China tariff deal — Here is why
- Bitcoin and VeChain prices rose sharply on May 12 following a new US-China trade agreement reached in Geneva after two days of negotiations.
- The agreement aims to reduce trade impacts on exporters and importers, boosting market sentiment and reviving investor optimism in digital assets.
- Bitcoin reached a record high of $105,032 on Binance, breaking the $100,000 barrier first crossed on May 8, while VeChain surged 32% in a week to $0.033.
- Analysts highlighted the potential for the agreement to quickly alleviate challenges faced by exporters and importers, which could lead to a swift positive reaction across markets.
- The price gains reflect lowered geopolitical tensions, increased institutional interest, and anticipation of US inflation data, but experts advise caution and risk management.
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17 Articles
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