Bitcoin Jumps as Trump Declares China Trade Deal ‘Done’

Bitcoin is finally getting a boost as the long-awaited U.S.-China trade agreement appears to be in place. After weeks of pressure tied to escalating U.S.-China tariff threats, the world’s largest cryptocurrency shot up near $110,300 after President Trump posted a celebratory update on Truth Social declaring the long-awaited trade deal with China “done.”

“Our deal with China is done, subject to final approval with President Xi and me,” Trump wrote. “We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent.”

The remarks immediately sparked movement across global markets, with Bitcoin making a sharp upward push before slightly retracing to $109,560 as of early afternoon Wednesday. It’s not yet a new all-time high, but the price is inching close enough to spark fresh momentum talk.

Bitcoin Rebounds from Tariff-Driven Turmoil

Just two months ago, Bitcoin had been spiraling off macro uncertainty. When Trump reintroduced reciprocal tariffs in early April, crypto markets tumbled alongside equities. Bitcoin plunged to $74,434, its lowest point of 2025, while the S&P 500 shed over $5 trillion in market cap.

“Almost all the other tariff negotiations and rhetoric are all about getting China to agree to a deal,” said Global Macro Investor CEO Raoul Pal, framing recent events as a final act in long-running trade drama.

Now, with Trump striking a deal and Chinese Vice Commerce Minister Li Chenggang confirming an in-principle agreement, crypto seems to be breathing easier. Chenggang called the talks in London “candid and in-depth,” and signaled ongoing cooperation to resolve disputes.

Sentiment Shifts Could Fuel New Bitcoin High

Bitcoin didn’t just benefit from hope. According to Nexo analyst Iliya Kalchev, the deal “appears to defuse some tensions over rare earth exports,” though he added that Wall Street futures were slow to fully embrace the announcement.

Still, for Bitcoin, relief from geopolitical pressure could reignite broader bullish flows. Venture activity has been unusually soft, with May logging just 62 crypto VC deals—a 2025 low. Analysts blame sentiment: venture firms pulled back as the macro picture soured.

But if trade fears now ease, and the global risk appetite returns, Bitcoin could have more than just a headline rally on its hands. If history is any guide, Bitcoin likes clarity, not confusion.

Where Bitcoin Goes from Here

BTC’s 24-hour high near $110,300 is within striking distance of its current record. With clearer trade conditions, the chance for new highs is firmly on the table.

Investors will now be watching approval timelines, formalities with China, and follow-through action. For crypto traders burned by the tariff fallout in April, this could be the bounce-back they’ve been waiting for. At the time of writing, Bitcoin is sitting at $110,296.58.