Why Is Crypto Going Up Today: Bitcoin Approaches All-Time High Amid Trade Developments and Institutional Interest
Bitcoin showed remarkable resilience today, climbing steadily toward its all-time high established in January.
The OG crypto is currently trading at $106,150s, remaining strong above the psychologically significant $100,000 barrier it reclaimed earlier this month. The recent upward momentum comes as markets respond positively to the breakthrough U.S.-China trade agreement announced on May 12, which included a 90-day pause on most tariffs between the countries.
Bitcoin has rebounded more than 30% from its April lows, when it dropped to around $74,000 following President Trump's "Liberation Day" tariffs announced in April.
Treasury Secretary Scott Bessent, who led the negotiations with Chinese Vice Premier He Lifeng in Switzerland, told CNBC he expects to meet with Chinese officials again in the coming weeks to work on a "more fulsome agreement," establishing a mechanism to prevent further tariff escalation.
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Bitcoin showed remarkable resilience today, climbing steadily toward its all-time high established in January.
The OG crypto is currently trading at $106,150s, remaining strong above the psychologically significant $100,000 barrier it reclaimed earlier this month. The recent upward momentum comes as markets respond positively to the breakthrough U.S.-China trade agreement announced on May 12, which included a 90-day pause on most tariffs between the countries.
Bitcoin has rebounded more than 30% from its April lows, when it dropped to around $74,000 following President Trump's "Liberation Day" tariffs announced in April.
Treasury Secretary Scott Bessent, who led the negotiations with Chinese Vice Premier He Lifeng in Switzerland, told CNBC he expects to meet with Chinese officials again in the coming weeks to work on a "more fulsome agreement," establishing a mechanism to prevent further tariff escalation.