Bitcoin retracts to USD $ 104,000 after the call between Trump and Xi Jinping

By Hannah Pérez

Bitcoin suddenly rose in the midst of the reports about the call between Trump and his Chinese counterpart, Xi Jinping; But soon he cut the profits. A sign that commercial policy continues to weigh on markets.

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• The developments of Trump tariffs continue to weigh on the markets.
• Bitcoin shot about USD $ 106k before the call among US leaders and China.
• However, the sudden rebound was followed by an immediate reverse price.
• No details have been announced about the conversation between Trump and Xi Jinping.

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Cryptocurren Trump and Xi Jinping.

The president of the United States, Donald Trump, and his Chinese counterpart, Xi Jinping, held a telephone call in the middle of commercial tensions and stagnant trade negotiations of both countries.

The Chinese Ministry of Foreign Affairs confirmed the call, which said it began at the request of the White House, according to reported AP and other media. The Trump administration had not issued a statement at the time of editing.

No details have been spoken about the conversation between both leaders. This would be the first known call between them since Trump began his second presidential mandate in January, according to CNB news.

The exchange occurred after Trump commented on Friday that it was difficult to reach an agreement with XI.

“I like President XI of China, I have always done it, and I will always do it, but it is very hard, and extremely difficult to make a deal with !!!”, Trump published on Wednesday on his account on the social network Social truth.

Bitcoin went up but quickly subtracted the profits

Commercial tensions between the United States and China have been silenced in recent months, with the implementation of new rates and reciprocal tariffs that increase costs on imported goods. Amid fears of prolonged commercial war, both nations agreed to relax their policies for new negotiations.

Trump He dropped his 145% tariffs on Chinese products at 30% for 90 days to allow conversations. China also reduced its taxes on US assets from 125% to 10%. This was before negotiations stagnate in May.

The round trip of trade agreements has caused strong agitation in global markets, including cryptocurrencies.

As on previous occasions, Thursday’s developments had an effect on the digital asset market. Bitcoin It arose at a price to a local top of almost USD $ 106,000 in the middle of the reports that anticipated the call between Trump and Xi Jinping. However, euphoria lasted little and was followed by a pronounced fall in the graphics.

Bitcoin The USD $ 104,000 is retracted at the time of writing these lines, 0.60% less in the last 24 hours, 7% below its historical maximum price close to USD $ 112,000 conquered on May 22, according to Coinmarketcap.

The sudden price in prices caused long liquidations (bullish bets) for more than USD $ 174 million in the cryptocurrency market in the period, according to data from Coinglass. In general, broad action in the market is bassist.

K33 analysts expect commercial policy developments and tariff narrative around Trump, will continue to generate volatility in the cryptocurrency market during June as uncertainty predominates. However, they believe that factors such as the approval of a Trump Budget Law could favor an upcoming impulse to Bitcoin.

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Hannah Estefanía Pérez / Diariobitcoin

Image generated with AI, under free use license

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