Bitcoin News Today: Bitcoin Surges to $119,700 as US-China Tariff Pause Talks Spark 17% Trading Volume Surge

Bitcoin surged to $119,700 as renewed U.S.-China tariff negotiations reignited investor optimism, pushing trading volumes up 17% to $56 billion [1]. The price climb, nearing Bitcoin’s all-time high of $123,091, reflects reduced global trade tensions following reports of a potential 90-day pause on existing duties between the two nations [1]. Analysts attribute the rally to a combination of geopolitical relief and strategic moves by institutional investors, with MicroStrategy’s recent buy signal spurring broader market participation [1].

The U.S. and China are set to meet in Stockholm to finalize the tariff pause, a development that has shifted capital flows toward risk-on assets like Bitcoin [1]. Edward Tanaka of Apex Digital Assets highlighted that the truce reduces dollar pressure and incentivizes investment in cryptocurrencies, which are now viewed as a hedge against uncertain trade policies [1]. On-chain data from BitMetrics shows the Bitcoin network’s hashrate hitting a record 932 EH/s, signaling robust miner confidence and network security [1].

However, the rally remains contingent on the truce’s confirmation. Sylvia Chang of Horizon FX warned that delays or breakdowns in negotiations could destabilize the market, as investors closely monitor the outcome [1]. While Ethereum and BNB also climbed, hitting $3,825 and $825 respectively, the broader crypto market’s $3.94 trillion valuation underscores lingering caution among traders [1].

Institutional activity has amplified Bitcoin’s momentum. Priya Bansal, a crypto strategist, noted that large investors returned to the market following MicroStrategy’s signal, reinforcing bullish sentiment [1]. GlassNode analysts added that the surge in hashrate and trading volumes aligns with technical indicators suggesting further price growth, though final confirmation depends on policy clarity [1].

The U.S.-China dialogue has extended its influence beyond traditional markets. Historically linked to stock volatility, the tariff talks now directly impact crypto prices, as traders reposition portfolios ahead of central bank policy reviews [1]. Arjun Desai of BlockInsight Research emphasized that Bitcoin’s role as a risk barometer is critical, with the 90-day pause serving as a potential catalyst for new highs if sustained [1].

Despite the optimism, risks persist. Unconfirmed details of the truce and mixed central bank signals leave room for market corrections. Traders are balancing buy-the-dip strategies with profit-taking, creating a volatile environment. The outcome of the Stockholm meeting will likely determine whether Bitcoin’s ascent continues or reverses.

Source: [1] [title: Bitcoin Soars to $119K as US-China Tariff Talks Reignite Spark Investor Frenzy] [url: https://coinmarketcap.com/community/articles/68874419ccfa7925fe395c82/]