US Treasury Secretary Bessent Eyes Thanksgiving for China Trade Deal — Could Bitcoin Feel the Heat?

Bitcoin slipped below $94,000, down over 2%, as Treasury Secretary Scott Bessent indicated that a US-China trade deal could be finalized by Thanksgiving (November 27). This news injected uncertainty into fragile markets, leading to the liquidation of $100 million in crypto longs. Bessent, speaking on Fox News, dismissed reports of delays and expressed confidence that China would honor the agreement, warning that Washington has "many levers" available if Beijing fails to comply, implying potential tariff or enforcement pressure. The timing of the potential deal right before the US holiday is significant, as thin liquidity during this period could amplify volatility for Bitcoin, which has historically reacted sharply to geopolitical headlines during low-volume times. Progress in negotiations could stabilize risk sentiment, while delays or threats could fuel further selling.

(Source：BeInCrypto)