Bitcoin Surges Past $108,000 as US-China Trade Talks Resume

Bitcoin (BTC) surged past $108,000 on Monday after consolidating between $100,000 and $106,000 for a week. This increase aligns with upcoming US-China trade negotiations aimed at resolving ongoing tensions.

Key Developments

Bitcoin rose 2% to a peak of $108,900 before slightly retreating.
Trade talks involve US Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng.
Negotiations began Monday and are expected to continue into Tuesday.
The discussions are part of President Trump's strategy to enforce compliance from trading partners through tariffs.
Tensions previously caused Bitcoin's value to drop to $75,000 amid fears of a trade war.
A temporary agreement announced last month led Bitcoin to an all-time high of $111,800 on May 22.
Trump recently accused China of violating the trade agreement over rare earth magnets.
Recent IPO activity in the crypto market may also be influencing Bitcoin's price surge.
Circle's IPO resulted in shares rising over 168%, marking a significant event for the sector.
Gemini has filed for an IPO, further integrating cryptocurrency with traditional finance.
Currently, BTC trades at $108,670, showing a monthly gain of 6% and just over 2.7% below its record high.

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