Bitcoin tops $111,300 as Trump says China trade deal coming ‘pretty soon’

Bitcoin's price rebounded above $111,300 following U.S. President Donald Trump's announcement that he would cut tariffs on China from 20% to 10% after meeting with Xi Jinping in South Korea. The initial market reaction was negative after the meeting concluded without an immediate announcement, but sentiment shifted upward after Trump stated a trade deal could come "pretty soon" and that rare earth issues were settled. However, analysts caution that the macroeconomic outlook remains uncertain because China has not confirmed Trump's statements, leading to potential near-term volatility. Further uncertainty stems from dissenting votes at the recent Federal Open Market Committee meeting regarding interest rate cuts.

(Source：The Block)