The global cryptocurrency market is witnessing a sharp rebound on renewed optimism over a potential U.S.–China trade breakthrough.
Specifically, within just 24 hours, total market capitalization surged from $3.69 trillion to $3.84 trillion, adding roughly $150 billion in value.
Several assets have been at the forefront of this momentum. For instance, as of press time, Bitcoin (BTC) had climbed 1.54% to $113,566, while Ethereum (ETH) followed with a 3.39% rally to $4,076.
Solana (SOL) rose 2.49% to around $198, BNB (BNB) gained 1.91% to $1,135, and XRP joined the uptrend with a 2.70% increase to $2.65.
Why crypto market is rallying
The surge came after significant developments in Beijing and Washington, where China’s Vice Minister of Commerce announced that both nations had reached a “consensus” on key trade issues. The discussions reportedly covered export controls, tariff suspensions, fentanyl-related measures, anti-drug cooperation, trade expansion, and U.S. Section 301 fees.
Meanwhile, U.S. Treasury Secretary Bessent further reinforced the bullish sentiment, stating that China is “ready” to finalize a trade deal following two days of negotiations, adding that Beijing intends to make “substantial” purchases of U.S. soybeans.
President Trump also expressed optimism that a “complete deal” could be reached within the week, comments that injected fresh confidence into global markets.
It’s worth noting that these same trade tensions previously contributed to the recent market corrections. At the time President Trump threatened to impose a 100% tariff on China, Bitcoin was attempting to break above $130,000 to set a new record high.
Despite the easing of trade threats, Bitcoin has continued to struggle with volatility, failing to reclaim the $115,000 level. Now, with progress toward a trade deal and the potential for sustained positive inflows into exchange-traded funds (ETFs), Bitcoin may have a better shot at breaching the $115,000 resistance.
Featured image via Shutterstock
