Bitcoin is inching closer to its historical peak as former President Donald Trump announces significant advancements in discussions with China. Over the weekend, the digital currency reached a remarkable $104,900, just barely 4% short of its highest ever, following Trump’s optimistic statements about the US-China negotiations during a meeting in Switzerland, as per TradingView data.
Trump shared via Truth Social that the talks were fruitful and amicable, leading to a comprehensive reset of relations and a renewed commitment to open up Chinese markets to American enterprises. “The conversation was extensive, with several agreements reached,” Trump noted. “We managed to negotiate a complete reset in a friendly yet constructive manner. Our aim is to encourage the opening up of China to American businesses, for the mutual benefit of both nations. WE HAVE MADE TREMENDOUS PROGRESS!!!”
The market perceived Trump’s statement as a signal of declining global tensions, which further bolstered Bitcoin’s bullish trend, previously stimulated by macro and institutional factors.
Bitcoin’s upward trajectory has been supported by several factors. Jerome Powell, the Federal Reserve Chair, hinted on Wednesday that the central bank is prepared to reduce interest rates if the situation calls for it, reassuring the market amidst controlled inflation and easing trade tensions. Bitcoin soared past $99,000 mid-week before rallying further to reach $100,000.
Bitfinex analysts believe the surge above $100,000 signifies genuine demand and not mere speculative excess. They noted that strong fundamentals and improved macro perspectives are driving Bitcoin’s clean breakout above $100k.
They also highlighted the substantial spot ETF inflows, strong on-chain accumulation, and declining exchange balances as indicators of actual demand. Simultaneously, Bitcoin continues to see robust corporate adoption, with firms like Strategy, MARA Holdings, and Metaplanet continuing their accumulation strategy while newer Bitcoin-focused companies emerge.
Earlier this week, Strive Asset Management, supported by Vivek Ramaswamy, announced its merger with Asset Entities to create a publicly traded Bitcoin treasury company. The new entity aims to maximize Bitcoin exposure per share, with the goal of raising up to $1 billion through equity and debt.
David Bailey, CEO of BTC Inc., recently raised $300 million for Nakamoto, a new Bitcoin investment firm, as reported by CNBC. The company secured $200 million in equity and $100 million in convertible debt, with plans to go public by merging with a Nasdaq-listed company this summer.
“Despite short-term volatility, the long-term trend for Bitcoin remains upward. This strength is supported by a stable US equity market, increasing global liquidity, and the growing acceptance of Bitcoin as a perfectly scarce monetary asset,” commented Joe Burnett, Director of Market Research at Unchained.
“We are also witnessing an increasing number of Bitcoin treasury companies using financial engineering and cash flow to amass Bitcoin—a topic I will examine in more detail in next Wednesday’s online event with Strive’s leadership team,” he added.
These developments come after Cantor Fitzgerald, in partnership with Tether and SoftBank, launched Twenty One, a Bitcoin-centric firm aiming to accumulate over 42,000 BTC. The initiative, spearheaded by Jack Mallers, seeks to develop financial products native to the Bitcoin standard.
