Bitcoin (BTC) Price Eyes New All-Time Highs After Donald Trump Says The US And China Had A Good Meeting

This time, a potential agreement between the US and China in the ongoing trade war talks looks likely to be the catalyst.

The US and China met in Switzerland on Wednesday, May 10, for the first round of trade talks since 2021. The talks concluded on Wednesday evening, with both sides planning to continue discussions on Thursday, May 11. The topics of conversation included a total reset in a friendly, but constructive manner.

The meeting follows a recent report by CoinGape, highlighting the potential impact of the US and China reaching an agreement on the price of Bitcoin (BTC). As the two largest economies in the world, any agreement could have significant implications for the cryptocurrency market.

After the meeting, former president Donald Trump took to Truth Social to share his thoughts on the encounter. In his post, Trump stated that they had a very good meeting with China. They discussed many things and agreed on several things, he added.

“We had a very good meeting with China in Switzerland today. We agreed on several things and both sides promised to continue talking. They are opening up to American business, which will be good for both China and the U.S.,” Trump said.

The president mentioned that they had a great meeting, adding that they are making progress.

His statement comes just as CoinGape reported that the first round of the US China trade talks concluded without an official announcement of an agreement. As a result, both sides plan to continue trade talks on Thursday, May 11, with US Treasury Secretary Scott Bessent and US Trade Rep Jamieson Greer leading discussions for the Americans.

It is worth mentioning that the Bitcoin price surged past the $104,000 resistance following Trump’s statement. The president’s statement undoubtedly provides optimism that the US and China could soon reach an agreement, which would be bullish for BTC and other crypto assets.

Regarding the BTC price action following Donald Trump’s statement, market expert and president of the ETF Store, Nate Geraci, had this to say:

“Bitcoin is pushing $105K and we could soon see a run at the ATH. This is certainly going to be on the radar of institutional investors and allocators. I’m very interested in watching the Spot Bitcoin ETF flows over the next several weeks.”