Highlights
The crypto market has reacted positively as the US and Chinese officials have agreed to restore a truce, after two months of Trump’s tariff war and intense discussions in London over the past two days. The two largest economies agreed to enter the Pre-Liberation Day status quo. Amid this US-China deal, Bitcoin price trades around $110K, altcoins have been moving higher with ETH eyeing a $3000 breakout.
US Commerce Secretary Howard Lutnick stated that they would start implementing the framework after US President Donald Trump and Chinese counterpart Xi Jinping give their approval. Information trickling in reveals that the US will get 55% tariffs while China will receive 10% upon final signing. Risk-ON assets are showing strength at the moment, with Dow futures gaining 100 points. Tesla (NASDAQ: TSLA) stock is also up 2.3% in the pre-market trading on Wednesday.
As the US-China trade deal talks commenced on Monday, the crypto market rallied with Bitcoin reaching $110K levels, eyeing a fresh breakout to new all-time highs. Altcoins also participated with Ethereum (ETH), leading the pack. In the last 24 hours, the ETH price is up by 4%, currently trading at $2,782, and eyeing a potential breakout to $3,000 and beyond.
The altcoin market is showing strength and is eyeing a breakout from the downward channel pattern. If the bulls sustain this momentum, the TOTAL 2 market cap, excluding BTC, could double to $1.7 trillion from the existing $857 billion.
Furthermore, if Ethereum continues to outperform Bitcoin moving ahead, it could lead to a strong market rally. On the other hand, DeFi coins are seeing double-digit returns, signaling a strong resurgence in decentralized finance activity. The momentum suggests a brewing bull crypto market for altcoins, with Ethereum leading the charge.
The US-China trade deal has reached a breakthrough moment with both parties agreeing to get their trade negotiations back on track. As a result, they have agreed to reach a preliminary framework for the new trade agreement. Key areas of negotiations include:
“First, we had to get sort of the negativity out, and now we can go forward,” said Lutnick after the end of the meetings. Li Chenggang, China’s Vice Minister of Commerce and International Trade Representative, announced that both sides have reached an agreement in principle on a framework to implement the consensus
US President Donald Trump revealed on Truth Social that negotiations with China are over, expressing satisfaction with the terms. The US will receive a total of 55% tariffs while China will get 10% tariffs from the trade deal. To sweeten the deal, the US will allow Chinese students to attend US universities as Trump says trade relationship is excellent between both superpowers.
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