Bitcoin Price Surges to All-Time High of $104,900

President Donald Trump said on Saturday that US-China talks had made great progress during a meeting in Switzerland, adding that the two sides agreed on a “total reset” in relations and renewed efforts to open Chinese markets to American businesses.

“Great progress being made on the China trade deal as tariffs will come off at the same time. There is a total reset being negotiated in a friendly, but constructive manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!,” Trump stated on Truth Social.

His statement comes amid increasing signs of flexibility from the Federal Reserve and strong institutional demand for Bitcoin, which has helped extend the cryptocurrency’s bullish momentum.

Bitcoin price rose to a high of $104,900 on Saturday evening, climbing around 4% from its previous peak and nearing its all-time high of $105,376, according to TradingView data.

Bitcoin price chart (15-minute time frame) on Saturday, July 15. Credit: TradingView

Multiple factors have supported Bitcoin’s upward momentum.

On Wednesday, Fed Chair Jerome Powell indicated the central bank’s readiness to cut interest rates if conditions warrant, and also signaled potential for a rate hike pause at the upcoming July meeting. This statement reassured markets amid a recent slowdown in inflation and easing trade tensions.

Bitcoin topped $99,000 mid-week before extending its rally to $100,000, a move which Bitfinex analysts said was a sign of real demand, not speculative excess.

“Bitcoin’s move back above $100K is a clean breakout driven by strong fundamentals and improved macro optics. We saw the Fed show it’s ready to cut if needed—without the urgency of inflation risk, thanks to easing tariff/macro anxieties and the scope for the Pivot is huge: good news from China, bad U.S. jobs, etc.,” Bitfinex analysts said in a statement.

This puts the Fed in a “policy optionality” regime: a neutral to slightly hawkish rate outlook, no QT [quantitative tightening] and bullish macro implications.”

Bitcoin price is showing signs of strong institutional demand and technical strength, according to Bitfinex analysts. Image: Bitfinex

Analysts also noted persistent newsworthy flows from the U.S.-listed spot Bitcoin ETFs, which saw a strong performance this week.

According to Farside Investors’ calculations, the four U.S.-listed spot Bitcoin ETFs, namely iShares Bitcoin Trust (NYSE:BTC), WisdomTree Bitcoin Trust (NYSE:WTCC), Invictus Bitcoin Strategy ETF (NYSE:IVNR) and Shapeshift FTX Bitcoin Strategy ETF (NYSE:BITC), collectively recorded an impressive $1 billion in total inflows and an even greater net inflow of $920 million.

This positive trend unfolded over four out of five positive trading days, showcasing the sustained strength of institutional demand for Bitcoin.

Among the four ETFs, BlackRock’s iShares Bitcoin Trust displayed the most significant performance, with its total trading volume on Thursday exceeding $1 billion for the first time since its launch in March.

IShares Bitcoin Trust (BTC) displayed the most significant performance, with its total trading volume on Thursday, July 13, exceeding $1 billion. This marks the highest volume achieved by the ETF since its inception in March.

The fund also extended its winning streak to 19 consecutive trading days, a testament to the persistent institutional demand for Bitcoin.

“This is not a melt-up—it’s a structural move. As long as ETF and institutional flows persist and the macro stays stable, dips will likely be brief. The path of least resistance remains higher,” said analysts.