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Trump and Bitcoin: Will the resolution of the crisis with China push the price towards 100,000 Dollar?
While the price of Bitcoin BTC maintains its strength above the $90,000 threshold, a new wave of optimism prevails in the cryptocurrency market, unusually driven by political developments led by U.S. President Donald Trump. Amid the fluctuations and declines that the market has recently witnessed, Trump surprised the markets by changing his tone regarding tariff policy on China, raising speculation that a potential resolution to the trade dispute could push the price of Bitcoin to the $100,000 level.
Bitcoin rebounds as Trump backs away from tariff escalation against China
Bitcoin surged past the $94,000 level in a single day, not due to ETF fund inflows as is usually the case, but due to waves of buying from Bitcoin whales, along with a sudden shift in the tone of U.S. policy.
After months of escalation and threats to impose additional tariffs, Trump appeared this week more inclined towards a settlement, expressing a desire to ease the trade dispute with China.
This shift has quickly resonated in the market, as Bitcoin has returned to recovery after having fallen below 75,000 Dollar, indicating the market's sensitivity to Trump's new directions.