US-China trade deal could push bitcoin prices to new highs — Coinotag

After a significant drop to $75,000 at the beginning of the month, the bitcoin exchange rate rose by more than 27% and topped the $100,000 mark. As Coinotag columnists concluded after analyzing these dynamics, investor sentiment towards the major cryptocurrency may be more influenced by geopolitical and other external factors than previously thought.

According to Jeff May from BTSE, interest in bitcoin among institutional investors is growing as trade talks between the US and China progress. As he noted, the likelihood of Fed rate cuts and a trade deal between the world's two largest economies could create a favorable environment for bitcoin investment, driving demand.

Jupiter Zheng of HashKey Capital said the expected trade deal could signal stability in global markets. This, in turn, may attract capital to alternative assets such as BTC.

A successful resolution of tensions between China and the US could push bitcoin to new highs, especially if the deal leads to a weaker dollar, Coinotag notes.