Bitcoin Surges to Nearly $105,000 After Trump Says 'Total Reset' in US-China Relations

Bitcoin prices surged on Saturday evening, surpassing $104,900, after former US President Donald Trump shared on the Truth Social platform that a “total reset” in US-China trade relations was being negotiated in a “friendly but constructive manner”.

In a striking post, Mr. Trump said:

“A very good meeting today with China, in Switzerland. Much was discussed, much was agreed upon. A total reset was negotiated in a friendly but constructive manner.”

He further emphasized that the US expects China to open up more to US businesses, calling it “GREAT PROGRESS MADE!!”

Crypto Market Reacts Strongly

The crypto market reacted positively immediately after the announcement. Bitcoin (BTC) rose 2%, reaching a weekly high, while Ethereum (ETH) recorded a gain of more than 10%, trading around $2,600. Dogecoin (DOGE) led the altcoin group with a 21% gain, reaching nearly $0.25.

The price increase came as senior US and Chinese officials met in Geneva, Switzerland, to cool down escalating tensions over recent tariff policies. Trump's conciliatory statements were seen as a signal that geopolitical pressures are easing, creating a more favorable environment for risk assets like cryptocurrencies.

Bitcoin Continues to Be a Barometer of Global Risks

Analysts say the market’s swift reaction suggests Bitcoin is playing an increasingly important role as a global liquidity and sentiment indicator, especially amid political and economic tensions between superpowers.

As of 8:45 p.m. ET, BTC was trading around $104,457, holding onto much of its intraday gains.

Conclusion

Saturday night’s events are a testament to the growing influence high-level political statements have on the cryptocurrency market. If the US-China talks continue to move in a positive direction, investors could see a broader recovery across the crypto market in the coming days.