Key takeaways
- China and the United States reached crucial trade deals during the Kuala Lumpur negotiations.
- Communication channels between the two countries have improved to discuss export controls and tariff issues.
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Bitcoin soared to $113,829 on Friday morning after the United States and China agreed on a framework agreement in Kuala Lumpur, resolving several key trade issues, following negotiations led by Chinese Vice Minister of Commerce Li Chenggang.
According to US Treasury Secretary Scott Bessent, the deal will prevent the US from imposing 100% tariffs on Chinese goods and delay new export controls on Chinese rare earths.
The breakthrough came after a sharp rise in trade tensions, as Trump’s warnings of triple-digit tariffs and Beijing’s export curbs on rare earths roiled markets. Bitcoin briefly fell below $104,000, with weakness spreading across all digital assets.
Following Sunday’s trading news, the total crypto market cap reached $3.9 trillion, a daily increase of 2%, according to CoinGecko data.
Over the past 24 hours, Bitcoin has edged higher towards $114,000, Ethereum has moved back above $4,000, and Solana has gained over 3%.
ZEC from Zcash, PUMP from Pump.fun, HYPE from Hyperliquid and WLFI from World Liberty Financial were among the top performers.
