China-US Trade Talks Boost US Stocks, Bitcoin Surges 6%

On May 10th and 11th, high-level economic and trade talks between China and the US took place in Geneva, Switzerland. Following the talks, officials from both nations announced significant progress, which boosted market sentiment. This development, coupled with the US-UK trade agreement framework reached on May 8th, had a notable impact on global markets. President Trump described the US-UK agreement as "groundbreaking," highlighting its potential to reduce tariff barriers and expand market access.

The positive news from the China-US trade talks and the US-UK agreement framework stimulated market sentiment, leading to a surge in US stock indices and Bitcoin. The three major US stock indices ended a three-week decline, and Bitcoin soared by over 6% in a single day, breaking through the $100,000 mark. US Commerce Secretary Rutenick emphasized that the 10% benchmark tariff on multiple countries will remain unchanged in the "short term," but the US-UK agreement may serve as a reference for future trade negotiations.

Analysts point out that although the details of the agreement still need to be refined, the market's optimistic expectations for global economic recovery and easing trade tensions have significantly warmed up. This positive outlook suggests that risk assets may continue to be strong in the short term. BiyaPay, as the world's first multi-asset trading wallet, showcases unique value by connecting 30 fiat currencies with 200 digital currencies for instant exchange. Users can participate directly in the US stock market by exchanging USD for USDT at a 1:1 ratio, and enjoy zero fees for digital currency spot/contract trades as a Maker.