Bitcoin approaches ATH as U.S.-China trade deal and strong institutional investment fuel market optimism.
Bitcoin showed remarkable resilience today, climbing steadily toward its all-time high established in January.
The OG crypto is currently trading at $106,150s, remaining strong above the psychologically significant $100,000 barrier it reclaimed earlier this month. The recent upward momentum comes as markets respond positively to the breakthrough U.S.-China trade agreement announced on May 12, which included a 90-day pause on most tariffs between the countries.
Bitcoin has rebounded more than 30% from its April lows, when it dropped to around $74,000 following President Trump's "Liberation Day" tariffs announced in April.
Treasury Secretary Scott Bessent, who led the negotiations with Chinese Vice Premier He Lifeng in Switzerland, told CNBC he expects to meet with Chinese officials again in the coming weeks to work on a "more fulsome agreement," establishing a mechanism to prevent further tariff escalation.
The Federal Reserve's recent decision to maintain interest rates at 4.25%-4.5% has provided a stable backdrop for crypto markets, while institutional investment continues to drive Bitcoin's performance.
Bitcoin ETFs saw significant inflows this month, with major players like Abu Dhabi's sovereign wealth fund increasing their exposure through these investment vehicles.
Source: CoinMarketCap
Standard Chartered analyst Geoff Kendrick projects Bitcoin could reach $500,000 before 2029 due to increasing institutional interest.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
