Bitcoin’s price has surged past the $105,000 mark following a groundbreaking agreement between the U.S. and China to temporarily eliminate trade tariffs. The deal, brokered after intensive negotiations in Switzerland, will reduce tariffs on goods from both countries for the next 90 days. Notably, the U.S. is aiming to lower its tariffs on Chinese imports by 75%, while China has agreed to reduce tariffs on American products by 25%. This landmark agreement provides relief to global markets experiencing economic anxieties and bolsters investor confidence in a timely manner. The move was met with positive market reaction, as witnessed by the rise of both the Chinese Yuan and the U.S. Dollar, further fueled the crypto market’s growth. This development has been particularly impactful for Bitcoin (BTC), which reached its highest point since January 2023 in response to this news.