Bitcoin reacts positively to initial US-China agreement; BTC rises to $114,000!

Bitcoin (BTC) has seen a significant jump today, with its price once again exceeding $113,000. The rise came after positive comments from US Treasury Secretary Scott Besant, who said that China is ready to make a deal that would disable the 100% tariffs imposed by Trump on Chinese goods. Trump had previously claimed on October 10 that China was behaving deceptively in some sensitive economic areas and threatened to impose 100% tariffs on the country.

After that, the leaders of the two countries held meetings to review the terms of the agreement, and according to official sources, a preliminary agreement has been reached between the economic delegations of the two sides.

Bitcoin's recent surge came while most traditional markets were closed on Sunday, making the crypto market the only winner this week.

After BTC’s sharp drop to around $101,000 following the October 10 drop, the recent move could be the start of a new uptrend. Bitcoin is now eyeing $114,000 as investors await the completion of a trade deal.