Key dealers
- Bitcoin’s price increased from $ 105,600 to $ 107,500 as markets expect trading calls at USA-Kina in London.
- The conversations aim to strengthen the Geneva framework for technology, manufacturing, critical minerals and agriculture.
Bitcoin recovered early on Monday and rose from about $ 105,600 to $ 107,800, as the markets turned their focus to high efforts between US and China that would start in London, TradingView data shows.
The leading crypto supply increased close to $ 112,000 at the end of last month and established a new record high before slipping to $ 101,000 in the middle of a wave of negative news, including stopped trade negotiations, Trump’s threat to double steel tariffs and renewed ETF outflows.
The latest round of trade calls in USA-Kina comes to the heel of an agreement in mid-May, when both countries promised to dramatically reduce mutual tariffs, from as high as 125% down to just 10%, for 90 days.
However, tensions flared almost immediately after the deal was hit, as both sides accused each other of breaching the Geneva agreement.
On May 30, President Donald Trump Beijing accused “completely offending” the deal, especially with regard to China’s restrictions on export of rare soils.
In return, China’s Ministry of Commerce called these accusations “baseless” and “false”, claiming that it had “seriously implemented and actively maintained Geneva -Consensus.” Beijing is counteracted by criticizing Washington’s new restrictions on AI chips, chip design software and Chinese student visa.
The White House stated that the London calls aim to strengthen the Geneva framework, with a focus on technology, manufacturing, critical minerals and agriculture. The talks were announced by President Trump on Friday after a phone call with Chinese President Xi Jinping.
Vice Premier He Lifeng will lead the Chinese delegation in meetings with US Trade Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer.
Momentum has returned for now, but whether Bitcoin’s Rebound is transformed into a continued rally is likely to depend on the result of the meeting, which is expected to extend over at least one day, According to AP.
Bitcoin acted to about $ 107,700 at press time, an increase of almost 2% over the past 24 hours.