New Rate Agreement between China and the US feeds Bitcoin's Alcista Corrida

By Hannah Pérez

Bitcoin exceeded USD $ 105,000 momentarily after the US reduced the import rate to Chinese products from 145% to 30%.

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Bitcoin visited the USD $ 105,000 after rate agreement between the USA and China.
The United States agreed to reduce the rate to Chinese products from 145% to 30%.
Both agreed to a reduction of tariffs for a period of 90 days.
The cryptocurrency market benefits from positive macro developments.

Bitcoin (BTC) continued the price ascent of the last days in the middle of a new relief of commercial tensions, visiting the level closest to their maximum historical price since January.

The United States and China reached a commercial agreement on Monday after two days of negotiations between high -level officials in the city of Geneva. Both nations agreed to drastically reduce import tariffs with each other for an initial period of 90 days, with the United States reducing tariffs to Chinese products from 145% to 30% during the agreed time.

In a reciprocal movement, China will also reduce tariffs to US products from 125% to 10% during the same duration. The surprising advance reduced the pressure of a commercial war by promoting global markets. Bitcoin jumped over the USD $ 105,000 after the news and approached the next price level.

The announcement occurred after a meeting in Switzerland that marked the first conversations between the two countries since the president of the United States, Donald Trump, imposed strong tariffs on Chinese imports.

Commercial policy caused agitation in financial markets, causing fears of a global recession. Bitcoin It sank below USD $ 75,000 in mid -April amid the macro uncertainty.

The cryptocurrency market has been recovering in recent weeks amid the perspective of lower commercial tensions and other positive macro developments. The weekend, the news about a ceasefire between India and Pakistan, added to Vladimir Putin’s comment about a possible end of the Russian war in Ukraine, further fueled the price rebound.

Panorama Macro feeds Bitcoin’s run

Bitcoin He jumped suddenly in the graphics to reach a local maximum of USD $ 105,747 in the early hours (ET) on Monday before a slight correction at USD $ 103,800, where he is located at the time of edition. Its price is only 5% below its historical maximum of more than $ 109,000 conquered in January, according to data from Coinmarketcap.

Other main cryptocurrencies have won even more, with Ether (ETH) increasing about 40% in the week to USD $ 2,530, above 10% gain for BTC in the period. Dogecoin (Doge) has emerged 43% while Cardano (ADA), Solarium (Sun) and Avalanche (AVAX) 25%, 20%and 28%arise, respectively.

The total capitalization of the cryptocurrency market is at USD $ 3.36 billion, 0.67% higher in 24 hours.

“The recent rebound throughout the cryptocurrency market has been promoted by a renewed optimism about commercial negotiations between the United States and China“, Said the analyst of Presto Research, Min Jung.

“Now we are seeing a classical rotation as the Bitcoin domain reaches last -time views before the 2021 bullish market – with capital that begins to flow towards Altcoins“He added, according to the coverage of The Block.

The Presto analyst continued to highlight the possibility that Bitcoin It breaks its previous historical, an event that will depend on a series of factors, including how commercial discussions and other geopolitical tensions evolve.

Beyond macro conditions, institutional and corporate investment will be “criticism”To maintain the upward impulse, while the next economic data in the US maintain vigilant investors, analysts cited by that means pointed out.

The bank Standard Chartered It retracted from its projection of USD $ 120,000 for BTC this quarter, saying it was “Very low”.

Hannah Estefanía Pérez / Diariobitcoin

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