Bitcoin Hits $96,446 as US-China Trade Talks Boost Market Sentiment

Bitcoin rose 2.2% to $96,446 early Wednesday, fueled by renewed investor optimism after the U.S. and China announced high-level trade talks in Switzerland. While still trading within a narrow $90,000–$97,000 range set last week, traders are eyeing $100,000 as the next psychological resistance level for the world’s largest cryptocurrency.

The upside followed improved risk appetite across global markets, despite persistent uncertainty over a potential resolution to the ongoing U.S.-China trade war. President Donald Trump tempered expectations, stating no plans to sign a deal soon, while both countries have continued imposing tariffs exceeding 100%. Although Bitcoin isn’t directly tied to trade talks, crypto markets remain highly sensitive to shifts in macroeconomic sentiment due to their speculative nature.

Adding to the bullish sentiment, Michael Saylor’s firm Strategy (formerly MicroStrategy) disclosed a new Bitcoin purchase worth $180 million, acquiring 1,895 BTC. This follows a recent announcement that Strategy plans to raise $21 billion via a stock offering to expand its holdings. However, the latest acquisition marks the smallest buy since March, reflecting a cautious tone as the firm faces an unrealized loss of $5.91 billion on its Bitcoin investments in Q1.

Broader crypto markets also edged higher. Ethereum gained 2.2% to $1,827.20, XRP rose 1.6% to $2.1388, and Cardano added 2.6%. Solana increased 1%, while Polygon dipped 0.6%. Among meme coins, Dogecoin gained 1.7%, while the Trump-themed $TRUMP token slipped 0.4%.

As investors monitor geopolitical developments and corporate crypto activity, Bitcoin’s momentum appears to be building, though resistance near the $100K mark remains a key hurdle.