BTC Price News: Retakes $110K as Trump Settles Metals Deal, Lowers China Tariffs

Bitcoin initially fell from $113,000 to $108,000 following the Federal Reserve Chairman Jerome Powell downplaying a December rate cut certainty, causing losses across major cryptocurrencies like XRP and DOGE. However, BTC reversed these losses, briefly retaking $110,000 after President Donald Trump announced favorable outcomes from his meeting with Chinese counterpart Xi Jinping. Trump stated that US tariffs on China would be lowered to 47% from 57% and that the rare earths issue was settled. These developments, combined with the Fed ending quantitative tightening on December 1st, signal easier financial conditions and returning liquidity, which generally supports risk assets like Bitcoin. The market's optimism hinges on this geopolitical de-escalation holding, which could push Bitcoin past $115,000, while a failure in talks could lead to renewed volatility.

(Source：CoinDesk)