US and UK Reach Trade Agreement, Bitcoin Rises to $104K, Ethereum Rebounds to $2,000 Level
U.S. President Trump Announces Trade Agreement with the UK
U.S. President Trump has announced a trade agreement with the United Kingdom and hinted that if the upcoming negotiations progress smoothly, tariffs on Chinese goods may decrease, leading to a rise in risk assets. Bitcoin surged from 96K during yesterday’s early trading to a peak of $104,145, marking a new high since February this year. Ethereum has also returned to the $2,000 threshold, with a nearly 20% increase in the last 24 hours.
Tariff Hopes Boost U.S. Stock Market
Benefiting from the new trade agreement between the U.S. and the UK, President Trump has expressed optimism once again. He stated that positive trade news, combined with the Republican Party’s efforts to extend and expand its signature tax reduction legislation, should give investors reasons to feel optimistic.
U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Jamieson Greer will hold talks on trade issues with Chinese Vice Premier He Lifeng in Switzerland in the coming days. Trump indicated that if negotiations go well, he might consider reducing the 145% tariff imposed on various Chinese goods.
Driven by the prospects of tariff hopes, the three major U.S. stock indices rebounded.
BTC at 104K, ETH Returns to 2K, Nearly a Billion Liquidated across the Network
Bitcoin surged from 96K during yesterday’s early trading to a peak of $104,145, marking a new high since February this year. It is just a step away from January’s historical high of $109,588. BitMex founder Arthur Hayes suggested that Bitcoin could reach the $150,000 mark by the end of the month.
Ethereum has returned to the $2,000 threshold, reporting at $2,181 before the deadline, with a nearly 20% increase in the last 24 hours.
The top ten cryptocurrencies by market capitalization all rose, with the Coinglass Fear and Greed Index reaching a greed level of 65. Within 24 hours, up to $960 million in positions were liquidated, including $420 million in Bitcoin and $300 million in Ethereum.
Risk Warning
Investing in cryptocurrencies involves a high degree of risk, and prices can be highly volatile. You may lose all your capital. Please assess the risks carefully.
