Bitcoin News Today: Bitcoin Nears New High as Trump Says US-China Trade 'Deal Is Done'

BTC hovers near $110K amid easing global economic uncertainty tied to trade developmentsKey Takeaways:Bitcoin price reaches intraday high near $110,300, now trading at around $109,900 on Binance.U.S. President Donald Trump announces U.S.-China trade deal “is done,” pending final approval.Analysts say the deal may relieve macroeconomic pressure on crypto and traditional assets.Bitcoin pushes toward all-time high as U.S.-China trade deal takes shapeBitcoin is nearing a new high, buoyed by optimism after U.S. President Donald Trump announced that a long-awaited trade agreement between the United States and China is effectively complete.“Our deal with China is done, subject to final approval with President Xi and me,” Trump wrote on Truth Social on Wednesday. “We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent.”The announcement sent Bitcoin’s price to a 24-hour peak just below $110,300, according to TradingView data. As of 1:15 p.m. UTC on Wednesday, Bitcoin is trading at $109,900 on Binance.The market reaction reflects investor relief over the potential de-escalation of the ongoing trade tensions between the world’s two largest economies, which have weighed on both crypto and equity markets throughout 2025.Analysts cautious despite easing tensionsDespite the positive headlines, some analysts remain cautious. Iliya Kalchev, an analyst at Nexo Dispatch, told Cointelegraph that while the deal helps reduce tensions, “concrete policy shifts remain elusive,” with Wall Street futures showing only a minor dip after the announcement.Global Macro Investor CEO Raoul Pal noted that most of the remaining negotiations appear to be “posturing” and that the core terms of the deal may already be in place.China confirms framework agreementOn Tuesday, China’s Vice Commerce Minister, Li Chenggang, confirmed that both sides had reached an “in-principle agreement” to resolve disputes through cooperative mechanisms. Talks held in London were described as “candid and in-depth,” according to Chinese state media Chinadaily.This development may provide broad market relief, especially after the tariff standoff triggered sharp volatility in April.Tariffs caused market-wide disruption in AprilTrump’s earlier announcement on April 2 of reciprocal import tariffs caused global markets to plunge. Bitcoin dropped to a 2025 low of $74,434 on April 7, while the S&P 500 lost over $5 trillion in market value — the largest single-period drop in its history.The uncertainty also dampened risk appetite across the board. Crypto venture funding slowed dramatically in May, logging only 62 investment rounds — the lowest monthly count of the year — amid worsening macro sentiment.According to Aurelie Barthere, principal research analyst at Nansen, the decline in VC interest reflected a “combination of market prices and sentiment,” exacerbated by concerns around trade policy.