Bitcoin Reaches New Highs Above $103,000 Amidst US-China Tariff Cut Agreement

Bitcoin experienced a significant surge past the $103,000 mark this Monday, propelled by a joint agreement between the United States and China to reduce trade tariffs. The move represents a notable shift in sentiment following easing of tensions between the two global economic powerhouses. As US and China’s tariff reductions, from 145% to 30% for US goods on Chinese products, and 125% to 10% for Chinese goods on US products, take effect May 14th and last 90 days respectively, investors are expressing optimism regarding Bitcoin’s potential as a risk-on asset. Bitcoin analysts believe this may lead the digital currency towards a new all-time high (ATH).