Bitcoin puts its historical highs back in its sights and returns above 115 thousand dollars, a level it hasn’t reached since October 10th. The jump, equal to +3.6% on a daily basis, comes in the wake of the new climate of commercial détente between Washington and Beijing.
Optimism was revived by the announcement of a preliminary agreement on tariffs reached on the sidelines of the talks in Malaysia. An agreement that is still fragile, but sufficient to freeze at least for now the threat of 100% tariffs on Chinese products evoked by Donald Trump in recent weeks. The US Treasury Secretary, Scott Bessent, said that the hypothesis is “virtually off the table”, causing the entire globe to breathe a sigh of relief.
US-China détente, cryptocurrencies accelerate
The relief on global markets was not long in coming. US stock futures and Asian indices opened higher, while the rally was generalized in the crypto world:
- Ethereum +2.6% near $4,060;
- Bnb and Solana +4.5%;
- Xrp +2.3% to 2.64 dollars;
- Single Trx in red (-2.9%).
The total market capitalization also returned to growth at 3,720 billion dollars, recovering part of the declines linked to the recent “liquidation cascade”, the most violent in history with over 19 billion dollars burned in a few hours.
What’s happening to Bitcoin
According to analysts, Bitcoin’s upward reaction should not be interpreted as a direct link between discussions regarding tariffs and crypto demand, but as a litmus test of global sentiment.
“Bitcoin is increasingly a macro asset with high risk sensitivity” explains Daniel Liu, CEO of Republic Technologies. “Optimism about US-China détente has reignited investors’ appetite.”
The dynamics indicate how cryptocurrencies now move in harmony with the liquidity of traditional markets, rather than against the current as in the early years of the sector. In practice, cryptocurrencies are no longer entirely a safe haven asset as they once were, but are increasingly an expression of world events.
Rally still fragile: eyes on the Fed
However, the cryptocurrency market remains vulnerable. The on-chain indicators such as number of transactions and active users do not yet signal a structural confirmation of the growth trend.
And the next real market mover will arrive soon: the Federal Reserve meeting will be held in a few days. A softer message on rates could trigger a new bullish leg. “The Fed will decide the short-term direction,” strategists warn. “Geopolitical relief alone is not enough.”
In the medium term, however, the approach remains constructive. According to Tiger Research, the drivers remain strong:
- expansion of global liquidity;
- increasing institutional flows;
- cycle of rate cuts in the US.
The target for the end of the year for Bitcoin could reach 200 thousand dollars. Ambitious, but not completely impossible in a market that has already demonstrated its ability to surprise. For now, however, Bitcoin remains below the highs of over 126 thousand dollars recorded on October 6th. But the fear of being left out of the rally returns to appear among traders, who do not take their finger off the mouse and their eyes from the monitor waiting for further developments on the price of Bitcoin.
