Since arriving at the White House, President Donald Trump has destabilized global markets, particularly with his aggressive customs policy. However, an agreement seems to have been reached with China, opening up the prospect of a potentially bullish détente for cryptocurrencies.

Preliminary consensus between the United States and China

It is difficult to ignore the trade tensions between the United States and China following the collapse of the cryptocurrency market on October 11, triggered by President Donald Trump’s announcement of a 100% tax on Chinese imports. But the situation could well be reversed following the recent announcement of a “preliminary consensus on several key trade issues” in this matter. Donald Trump is currently in Asia on a tour that began in the Malaysian capital of Kuala Lumpur. This is an opportunity to strike a few “deals” with China, Malaysia, and Vietnam, accompanied by a reduction in the tariffs imposed on these countries.

This détente was confirmed by US Treasury Secretary Scott Bessent, whose main point was the postponement, presented as lasting, of the threats of restrictions put forward by China on its exports of rare earths.

However, the statement from China’s chief trade negotiator, Li Chenggang, was more nuanced.
The US position has been firm. We have held very intensive consultations and engaged in constructive discussions to explore solutions and mechanisms to address these concerns.

As a result, Asian markets are starting the week on a high note. The Nikkei 225 index on the Tokyo Stock Exchange, for example, has just surpassed the symbolic 50,000-point mark for the first time in its history, following a 2.5% surge over the last 24 hours.

Bitcoin heading for a new high?

This agreement, which is still considered fragile on the Chinese side, between the two largest economic powers on the planet—accounting for 40% of global GDP—opens up new and more favorable prospects for global markets at the end of the year. In Europe, analysts are already anticipating an upward trend at the start of the week.

This is an opportunity to hope for confirmation of the bullish return triggered by the BTC price since its rebound from the $106,000 support level. Hopefully, the specter of $100,000, recently presented as “inevitable” by Standard Chartered analysts, will be dispelled for good.

This bullish momentum could well be bolstered by another positive development, with the prospect of a further 25 basis point cut in interest rates by the US Federal Reserve, which currently has a probability of over 96% on the FedWatch tool. To be continued in the coming days…