Trump’s Announcements Fail to Lift Bitcoin, China Deal Seen as Positive for Crypto

Despite recent statements by Donald Trump regarding Venezuela and other international affairs, the cryptocurrency market did not significantly respond. While bitcoin failed to surpass $112,000 by the end of the week, altcoins saw some positive recovery. The focus on potential trade deals and China’s participation in the economy may be behind this trend. 1. Trump has denied accusations of launching an attack on Venezuela, despite reports alleging imminent action. 2. While Trump’s statements about not restarting negotiations with Canada remain a subject of debate, he praised agreements made with China regarding trade, specifically mentioning the removal of tariffs. 3. Treasury Secretary, Bessent, added to this sentiment, stating that the US and China found common ground through their meeting but cautioned China against using critical minerals as a weapon. 4. Bessent also noted that China agreed to delay implementation of rare earth elements regime, buy significant amounts of US soybeans, and allow American investors control over TikTok in the US. These developments have been considered positive by crypto analysts, especially given the lack of an attack on Venezuela during the weekend. However, it’s crucial to remember that these statements are contingent on maintaining a stable international climate and future market conditions remain uncertain.