Bitcoin’s price has recently surged past the $116,000 mark, fueled by positive sentiment surrounding US-China trade negotiations. Analysts believe this is largely driven by optimism around potential breakthroughs in these discussions and the subsequent market impact on global economies. Large investors in the cryptocurrency market known as ‘whales’ have also contributed to this upward trend. 2023 has seen Bitcoin respond favorably to similar macroeconomic shifts, suggesting its potential as a risk asset during periods of economic instability. The announcement by US Treasury Secretary Scott Bessent regarding China’s concessions, including increased soybean purchases and a halt to rare earth element export controls, was a key factor driving the price increase. This shift in global markets has led to Bitcoin reaching new highs, demonstrating its unique ability to react directly to these changes. Experts anticipate continued bullish momentum in the coming days, fueled by this recent market surge and anticipated future advancements in the field.