Will Bitcoin Break $100K as US-China Trade Talks Begin May 10?


The price of Bitcoin (BTC) is inching closer to the $100,000 mark as hopes rise over a possible breakthrough in US-China trade relations. Optimism surged after US Treasury Secretary Scott Bessent confirmed that trade talks between the two nations will begin on May 10.


Bessent: Talks Are Just Getting Started

Speaking during a hearing before the House Financial Services Committee, Bessent stated that negotiations will begin in Switzerland this Saturday. He clarified that these are early-stage discussions, not advanced talks, as some earlier reports had suggested.

Despite the buzz, Bessent emphasized that this is only the start of the dialogue and that no major agreements have been reached yet.


Bitcoin Reacts to Trade Developments

Bitcoin’s price briefly surged past $96,000 and touched $97,000 after initial reports of the upcoming trade talks surfaced. However, once Bessent clarified the limited progress in negotiations, BTC dipped back below $97,000.


Still, the overall market sentiment remains positive. According to crypto analyst Zeinab, Bitcoin could break above the $100,000 psychological level if there’s even a hint of resolution between the two economic giants.


Currently Bitcoin Price trading at $96,488.13 as per Coinpedia Market data.



Trade War and Tariffs Still a Concern

The US-China trade war, largely intensified by tariffs imposed during Donald Trump’s presidency, continues to weigh heavily on global markets. The two countries have raised tariffs significantly—up to 145% from the US and 125% from China—hurting trade and investor confidence.


US Close to Deals with Other Countries

Interestingly, Bessent also mentioned that the US is close to reaching agreements with 17 out of 18 key trading partners. China remains the only major exception. While he did not name the countries involved—citing national interest—he noted that some negotiations are already in advanced stages.


With trade talks set to begin on May 10, all eyes will be on how the US and China navigate their long-standing economic tensions. If talks show signs of progress, the Bitcoin price could be among the first to reflect the optimism. 

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