Bitcoin (BTC) prices are defying the FOMC uncertainty and are showing bullish strength on positive US-China trade news.

Crypto prices are showing bullish strength on positive US-China trade news, despite the FOMC uncertainty later today.

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will meet Chinese government representatives later this week in Switzerland to discuss a “fair trade” deal, Bessent and Chinese Vice Premier He Lifeng confirmed.

The Bitcoin price traded as high as $97,500 on the news before a pullback to $96.5k at press time. Altcoins are also in the green, with Litecoin, Onyxcoin and Worldcoin among the top performers, each featuring in experts’ lists of best cryptos to buy.

How Will The US-China Trade War Affect Crypto Prices?

There’s an old adage in trading: Show me the chart and I will tell you the news.

The soaring global liquidity, as measured by the Global M2 money supply, has already confirmed the start of a new crypto bull market.

Global Macro Investor CEO Raoul Pal’s chart, which highlights Global M2’s extremely strong correlation with Bitcoin, shows that the BTC price could surpass $140k this year.

Noticeably, the global money supply continues to surge, which is raising Bitcoin’s price target for this year.

A US-China trade deal could be the catalyst that sends Bitcoin, as well as altcoin prices, soaring to new highs.

US Treasury Secretary Scott Bessent put on an X post, laying down “fair trade” as his agenda for this weekend’s Switzerland meeting.

Thanks to @POTUS, the world has been coming to the US, and China has been the missing piece—we will meet on Saturday and Sunday to discuss our shared interests.The current tariffs and trade barriers are unsustainable, but we don’t want to decouple.What we want is fair trade. pic.twitter.com/MYc4XvqME8

While any trade deal currently remains a pipe dream, Bessent’s meeting with the Chinese Vice Premier He Lifeng is a positive step towards ending the tariff war between the two superpowers.

All eyes are now on today’s FOMC meeting, in particular, Fed Chair Jerome Powell’s speech. Despite the central bank expected to hold its Federal target rate steady at 425 – 450 basis points, Powell could adopt a dovish stance, which could send crypto prices soaring.

As such, the central bank chair needs to pacify the jittery investors regarding the negative US Q1 GDP, which sparked recession fears last week. Any hint of aggressive rate cuts this year or Quantitative Easing could trigger a strong rally.

Powell’s remarks could help the Bitcoin price breach the $99k resistance, paving the way for a new all-time high.

Best Altcoins To Buy Now

Bitcoin continues to be a consensus pick among experts for the best crypto to buy now. $150k for this year now appears to be a reasonable price target, with some bulls now anticipating a rally to $200k during this bull cycle.

Smart money investors are also hunting for ways to earn free Bitcoin. A new meme coin, BTC Bull (BTCBULL), has raised over $5 million in its presale simply because of this demand.

Its holders will earn free BTC as well as benefit from token burn events and BTCBULL airdrop, when the Bitcoin price hits certain set milestones. The first token burn is at $125k while the first Bitcoin airdrop is at $150k, both of which could happen this quarter itself.

Owing to its unique value proposition, several prominent influencers are calling it the next 100x meme coin.

Sidelined investors should also consider gaining exposure to the AI crypto space, buying blue-chip coins like Bittensor, Virtuals Protocol and Fartcoin.

A new Mind of Pepe (MIND) is also in high demand, having already raised nearly $9 million in its presale.

The small-cap AI coin is drawing significant six-figure investments from whales ahead of its AI agent launch on May 10th and presale end date of May 31st.

Similar to BTCBULL, early buyers are eyeing up to 100x returns from it.

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