Bitcoin Surge to $97,650 Fueled by US-China Trade Talk Hopes

Bitcoin prices surged above $97,650 in early Asian trading on Wednesday, May 7th, marking a fresh all-time high. This move echoes a previous peak at $94,000 and signifies a shift from the asset’s recent pullback. Bitcoin traders are capitalizing on optimism surrounding US-China trade talks expected to commence over the weekend in Switzerland. The upcoming summit between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng is anticipated to address issues like tariffs and trade barriers, potentially paving the way for a more stable global economic landscape.