Bitcoin Gains Momentum Amid US-China Trade Deal Boosting Optimism

A temporary tariff reduction agreement between the US and China has injected optimism into the market, leading to a surge in Bitcoin’s price. The agreement, which takes effect on May 14th and lasts for 90 days, will see a significant decrease in tariffs applied to both Chinese and American goods. This move aims to ease economic strain between the two nations and foster smoother trade interactions. While the immediate impact is expected to be beneficial to various industries due to decreased trade costs, the long-term consequences of this agreement on US-China relations remain to be seen.