Bitcoin News Today: Bitcoin Surges 2.88% to $119,700 as U.S.-China Tariff Talks Fuel Rally

Bitcoin surged to $119,700 amid renewed optimism over U.S.-China tariff negotiations, marking a 2.88% gap from its all-time high of $123,091.61. The rally coincided with reports that the two nations plan to meet in Stockholm to discuss a potential 90-day pause on existing duties, a development analysts attribute to easing global trade tensions. Daily trading volume for Bitcoin jumped 17% to $56 billion, reflecting heightened investor activity and renewed institutional interest. “This isn’t just a random jump—it’s the result of reduced trade fears and fresh interest from big investors,” said Priya Bansal, a crypto market strategist [1].

The U.S.-China tariff discussions, which had previously influenced stock markets, are now amplifying their impact on cryptocurrencies. A temporary halt to tariffs, analysts argue, reduces geopolitical risk and encourages capital flows into high-risk assets. Edward Tanaka of Apex Digital Assets noted that the pause “gives traders relief” and weakens the U.S. dollar, diverting funds into Bitcoin [2]. The move also aligns with central banks’ upcoming policy reviews, prompting traders to adjust strategies ahead of potential rate decisions.

Institutional players have amplified the rally, with MicroStrategy’s buy signal sparking broader participation. Large firms entering the market have bolstered confidence, supported by Bitcoin’s record network hashrate of 932 EH/s, a sign of robust miner activity. GlassNode analysts highlighted that technical indicators and institutional demand create a favorable environment for further gains. Meanwhile, Bitcoin’s proximity to its July peak has drawn cautious optimism. “Bitcoin is serving as a barometer for risk appetite,” added Arjun Desai of BlockInsight Research, linking the surge to the likelihood of a confirmed tariff truce [3].

However, uncertainties linger. The details of the proposed pause remain unconfirmed, and delays or failures in negotiations could destabilize the rally. Sylvia Chang of Horizon FX warned of a “fine line between hope and letdown,” noting that unmet expectations could trigger sharp corrections [4]. Some investors are already locking in profits as Bitcoin nears critical levels, while others await clarity on the tariff timeline.

The broader crypto market has mirrored Bitcoin’s momentum, with Ethereum rising past $3,825 and BNB hitting $825. The total crypto market cap now exceeds $3.94 trillion, underscoring continued faith in digital assets despite macroeconomic risks. Yet, the sector’s volatility means the rally’s sustainability hinges on the U.S. and China finalizing their agreement. If confirmed, the pause could pave the way for Bitcoin to reclaim its all-time high and drive broader crypto adoption.

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