U.S.-China Talks Boost Bitcoin to $103,816

Senior Chinese and U.S. officials recently held crucial talks in Geneva, Switzerland, resulting in a significant consensus. Both parties agreed to establish a trade negotiation mechanism and commit to ongoing dialogues to address their differences. This positive development has sent a stabilizing signal to the market, enhancing global supply chain expectations and stabilizing the international trade environment. Consequently, the risk aversion sentiment in global asset markets has decreased, contributing to a more optimistic international economic outlook.

According to a Bitunix analyst, Bitcoin (BTC) has stabilized at a high level this week, reaching $103,816 at the time of publication. The easing of tensions between China and the U.S. has boosted short-term market risk appetite, providing support for risk assets. Technically, the short-term support for BTC is around $102,000. If this level holds, there is still an opportunity to test the $105,000 resistance. The analyst advises keeping an eye on changes in U.S.-China negotiations this week, monitoring data releases, adjusting positions flexibly, and maintaining vigilant risk control.