BTC Price Surge: Trump's China Comments Fuel ATH Hopes
The Bitcoin (BTC) price experienced a significant surge, exceeding $104,000, fueled by positive news regarding US-China trade talks. Donald Trump's statement about a "good meeting" with Chinese officials injected optimism into the market, leading many to speculate about a potential new all-time high (ATH).
Positive US-China Trade Talks
Following a May 10th meeting in Switzerland, Trump announced on Truth Social a "very good meeting" with China, stating that various topics were discussed and agreements reached. He described the negotiations as a "friendly, but constructive" total reset, expressing his desire to see increased access for American businesses in the Chinese market.
This announcement followed the first round of US-China trade talks, which concluded without an official agreement but are set to continue on May 11th.
Market Experts React to BTC Price Action
Nate Geraci, president of the ETF Store, noted Bitcoin's push towards $105,000 and its potential to reach a new ATH. He highlighted the increasing interest from institutional investors and the importance of monitoring Spot Bitcoin ETF flows in the coming weeks.
Crypto analyst Titan of Crypto also shared a bullish outlook, pointing to a bullish crossover and a bullish MACD flip on the weekly chart. Their analysis suggests a possible BTC price rally to $135,000.
A CoinGape market analyst further predicted a potential rally to $120,000, suggesting that a breakout above $105,000 could trigger a move towards the $112,000–$120,000 range.
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Disclaimer: This content is for informational purposes only and does not constitute financial advice. Conduct thorough research before investing in cryptocurrencies.