Markets reel on US, China landmark trade deal

The crypto markets has responded well to a landmark trade deal within U.S. and China with Bitcoin trading at $104,094.00, up from the price of $72,877.39, seen on Apr 2. The total crypto market cap has also reached $3.3 trillion dollars, as the news has made the crypto market surge. There is a big breakthrough in trade talks between the U.S. and China, said U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Ambassador Jamieson Greer. Greer heralded how quickly both sides came to agreement, saying the differences were narrower than expected to be. “Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.” said Greer.The talks were part of a national emergency declared by President Donald Trump resulting from the $1.2 trillion U.S. trade deficit. Officials believe a new agreement will help reduce that trade imbalance. The officials are planning to provide a full briefing tomorrow. From April 2nd through May 11th, Bitcoin had a very clear uptrend, moving steeply from approximately $72,000 to over $104,000 as seen on the Binance BTC/USDT liquidation heatmap. Bitcoin jumped from $72K to $104K, triggering major short liquidations. This time frame indicated some liquidation zones that aligned and suggested aggressive relief from short squeezes and higher leverage levels. The Geneva deal, which addresses tariffs and trade imbalances, communicates macroeconomic stability—helping the appetite for digital assets as hedge instruments is returning as economic outlooks globally improve.