US-China trade deal ignites fresh Bitcoin rally, lifting BTC closer to its all-time high

A landmark US-China trade deal has ignited a fresh rally in the crypto market, lifting Bitcoin closer to its all-time high and spurring Japan's Metaplanet

A landmark US-China trade deal has sparked a fresh rally in the crypto market, pushing Bitcoin closer to its all-time high and potentially prompting Japan's Metaplanet and Strategy to add to their BTC war chests.

Announced after weekend talks in Switzerland, the agreement will see both nations slash tariffs on each other's goods for 90 days as the nations work to defuse bilateral tensions. The US will lower levies on Chinese products from 145% to 30%, while China will reduce its tariffs on American imports from 125% to 10%.

Bitcoin (BTC) responded positively, climbing over 1% to $105,231.94 by early Monday, narrowing the gap to its January all-time high of $109,114.99. Other cryptos surged even more sharply - Pi Network (PI) jumped 55%, Dogwifhat (WIF) soared 39%, and Kaspa (KAS) gained 21% in 24 hours.

Top altcoin Ethereum surged 3.9% and XRP climbed 2.8%.

Metaplanet Surpasses El Salvador In Bitcoin Holdings With Latest Purchase

Amid the bullish sentiment, Japan-based investment firm Metaplanet announced it has overtaken El Salvador in total Bitcoin holdings after acquiring another 1,241 BTC - a $126.7 million buy at an average price of $102,119.

Metaplanet's CEO Simon Gerovich shared the news in a post on X on May 12, and said the firm's Bitcoin buying is "just getting started."

We have acquired 1241 BTC for ~126.7 million at ~102,119 per bitcoin and have achieved BTC Yield of 170.0% YTD 2025. As of 5/12/2025, we hold 6796 $BTC acquired for ~608.2 million at ~89,492 per bitcoin. $MTPLF https://t.co/74Mxf7jP9v

— Simon Gerovich (@gerovich) May 12, 2025

Following its latest Bitcoin buy, Metaplanet now holds 6,796 BTC, having spent $608.2 million at an average cost basis of $89,492 per coin. That puts it ahead of El Salvador, which holds 6,174 BTC, according to Bitcoin Office.

Strategy's Saylor Hints At Another Bitcoin Buy

Metaplanet is not the only company loading up on Bitcoin. Strategy, the largest corporate BTC holder globally, might announce another purchase later today.

In an X post yesterday, Strategy executive chairman Saylor posted a screenshot of the SaylorTracker chart with the caption "Connect the Dots." Past posts by Saylor that included a picture of the chart have been followed by announcements of Bitcoin purchases from Strategy.

Connect the Dots…. pic.twitter.com/Z9q02mJ98j

— SaylorIV (@saylor) May 11, 2025

The recent gain has also added to the crypto's positive monthly performance. As a result, the Bitcoin price is up 24% in the last month.