Bitcoin Nears $97K As US-China Trade Talks Reignite Risk Appetite
Bitcoin surged almost 3% to approach $97k after China and the US announced plans to resume trade negotiations this week, boosting investor sentiment across risk assets. “I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the United States,” US Treasury Secretary Scott Bessent said in a May 6 statement . US And China Trade Officials To Meet In Switzerland Trade officials from China and the US are set to meet in Switzerland later this week. The discussions aim to re-open dialogue between the two following weeks of growing tariff disputes. Since Trump entered the White House for a second term in January, the US has imposed new tariffs totaling 145% on Chinese imports. In retaliation, China responded with its own 125% tariffs on US goods. This triggered a steep plunge in markets initially as investors fled risk assets, before a rebound that came after Trump dialed back many tari...