Bitcoin Hits Record High, Bitcoin ETFs Surge on Trump’s China Stance

Bitcoin broke past the $94,000 mark for the first time in months following President Donald Trump’s softening stance on Chinese tariffs and assurance that Jerome Powell would remain as Fed Chair. Analyzing a press conference, Trump stated that the US will adopt a more amicable approach towards China, implying reductions in tariffs if negotiations succeed. This optimistic outlook spurred a surge in crypto markets, pushing Bitcoin up over 6% to its highest level in seven weeks, exceeding $94,000. This positive momentum impacted the meme coin market with Dogecoin, Shiba Inu, and Pepe seeing double-digit gains of over 14%, indicating a return of risk appetite.