Bitcoin Reclaims $96,300 as Risk Appetite Grows
By: fxleaders|2025/05/08 03:30:02
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The cryptocurrency market kicked off the week with strong gains, fueled by a renewed appetite for risk amid signs of easing trade tensions. Bitcoin ( BTC ) is up 3%, climbing above $96,300 on Binance , while Ethereum ( ETH ) has risen nearly 3.2%, consolidating above $1,800. The total crypto market capitalization has grown by around 2%, approaching the $3 trillion mark. Major altcoins are also riding the wave of optimism. Tokens such as XRP , Solana (SOL), Cardano ( ADA ), and Dogecoin ( DOGE ) are posting gains between 1.1% and 2.9%. Only a few exceptions, like Tron (TRX), are showing minor declines, with no significant selling pressure. One of the key drivers behind this rally is renewed optimism over international trade. The United States and China are set to resume bilateral talks in Switzerland this week. According to the U.S. government, Treasury Secretary Scott Bessent will meet with China’s top economic official He Lifeng, alongside trade negotiator Jamieson Greer, to discuss tariff-related issues. A spokesperson from China’s Ministry of Commerce confirmed Beijing’s willingness to engage, noting they’ve acknowledged Washington’s signals and are prepared for a constructive dialogue. In parallel, Bessent hinted at potential trade breakthroughs, telling Congress: “We could finalize trade agreements this week with some of our key partners.” Despite this optimism, the Federal Reserve remains cautious amid political pressure. Fed Chair Jerome Powell has reiterated the need for more time to assess the real impact of tariffs on the economy, emphasizing the importance of not jeopardizing growth or price stability.
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