Bitcoin Nears New High Amid USA-China Deal News
11 Jun, 2025 ● Crypto News
Bitcoin is approaching a new high, fueled by optimism surrounding a potential resolution between the United States and China on their long-awaited trade deal.
In a post on Truth Social, US President Donald Trump announced that the two countries have nearly finalized their agreement.
“Our deal with China is done, subject to final approval with President Xi and me,” Trump said, adding: “We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent.”
Despite this, Nexo analyst Iliya Kalchev noted that while the deal may ease tensions around rare earth exports, it lacks substantial policy changes. He added that Wall Street futures slightly declined following the announcement.
Bitcoin’s price briefly climbed to just under $110,300 before settling at $109,560 by early Wednesday afternoon, according to TradingView data.
Global Macro Investor CEO Raoul Pal suggested that much of the ongoing tariff-related dialogue is more about positioning for a broader agreement with China, implying that the remainder of the negotiations may be mostly performative.
China’s Vice Commerce Minister, Li Chenggang, confirmed that both sides have agreed in principle to resolve trade disputes through mutually beneficial cooperation, following discussions in London described as “candid and in-depth.”
These developments could offer some relief to crypto investors, who have viewed Trump’s tariff policies as a major macroeconomic threat to both traditional and digital markets this year.
Following Trump’s announcement of reciprocal tariffs on April 2, Bitcoin plunged to a 2025 low of $74,434 just five days later, while the S&P 500 saw its largest recorded drop, shedding over $5 trillion in value.
The uncertainty also weighed on venture capital activity, with crypto VC deals dropping to 62 rounds in May — the lowest monthly figure in 2025.
Nansen’s Aurelie Barthere attributed the slowdown to both declining market sentiment and prices, influenced by worsening trade rhetoric.
Sources:
https://cointelegraph.com/news/bitcoin-all-time-high-trump-us-china-trade-deal
https://www.chinadailyhk.com/hk/article/613689#China,-US-reach-framework-on-trade-2025-06-11
https://www.tradingview.com/chart/JBpUV8Q8/?symbol=BITSTAMP%3ABTCUSD
https://truthsocial.com/@realDonaldTrump/posts/114664632971715644
