Bitcoin (BTC) price has climbed above $93,000, fueled by President Donald Trump's announced substantial tariff reduction on China.

This move signaled a de-escalation of trade tensions between the two nations. Donald Trump also emphasized that there won't be tough tactics in future negotiations.

Former President Donald Trump announced a substantial tariff reduction on China, signaling a de-escalation of trade tensions between the two nations. This move, which saw a 10% tariff on Chinese goods being slashed to zero, came after months of escalating trade disputes.

During the trade war, the U.S. imposed tariffs on $375 billion worth of Chinese goods, while China retaliated with tariffs on $110 billion of U.S. products. However, in a surprising turn of events, Trump announced that these tariffs would be scrapped.

“We’re not going to be doing anything drastically different. We’re going to be handling it the same way, but maybe a little bit tougher than they’d like,” Trump said, hinting at a continuation of tough negotiation tactics.

This move sparked optimism among investors, who saw it as a step towards easing trade concerns and promoting global economic stability. In other news, a recent report by the Bank for International Settlements (BIS) has warned that stablecoins, cryptocurrencies pegged to fiat currencies to maintain price stability, could pose risks to financial stability.

Despite this warning, interest in stablecoins continues to grow rapidly. Earlier this week, Circle and Meta announced a partnership to bring U.S. dollar-backed stablecoins to WhatsApp users in the U.S.

This partnership is part of a broader effort by Meta to expand its financial services offerings. Last year, the company launched Novi, a digital wallet that allows users to send and receive stablecoins.

In a statement, David Marcus, Meta’s president of global metavers, said: “We’re excited to be working with Circle to explore bringing blockchain payments to WhatsApp in the U.S.

“People use WhatsApp every day to stay in touch with family and friends, and we’re looking forward to building on that experience with the introduction of a new way for people to send and receive money quickly and easily.”

The move comes as part of a broader shift in market dynamics, with investors now focusing on any developments that could affect the crypto market.