U.S.-China Trade Deal Boosts Crypto Market, Bitcoin Surpasses $104,000

A significant trade truce between the US and China has sparked optimism within the cryptocurrency market. Under a Geneva agreement, tariffs on U.S. goods have been reduced from 125% to 10%, while imports from China will experience a drop in taxes from 145% to 30%. This deal, which takes effect on May 14, 2025, is expected to boost global risk appetite and drive investor confidence. This has led to Bitcoin (BTC) exceeding $104,000 and Ethereum (ETH) gaining momentum, surpassing the $2,500 mark.