Important points
- China and the United States reached an important agreement on trade at the Kuala Lumpur talks.
- Communication channels between the two countries were improved to discuss export controls and customs issues.
Bitcoin rose to $113,829 on Friday morning after the United States and China reached a framework agreement in Kuala Lumpur, resolving several key trade issues following talks led by China’s Vice-Minister of Commerce Li Chengang.
The deal prevents the United States from imposing 100% tariffs on Chinese goods and delays new export restrictions on China’s rare earth minerals, according to Treasury Secretary Scott Bessent.
The breakthrough comes after trade tensions sharply escalated as President Trump’s triple-digit tariffs and Beijing’s warnings about restricting rare earth exports spooked markets. Bitcoin briefly fell below $104,000, and the bearishness spread across digital assets.
Following Sunday’s trade news, the market capitalization of cryptocurrencies reached $3.9 trillion, marking a 2% daily increase, according to data from CoinGecko.
In the past 24 hours, Bitcoin has inched towards $114,000, Ethereum has surpassed $4,000, and Solana is up over 3%.
Zcash’s ZEC, Pump.fun’s PUMP, Hyperliquid’s HYPE, and World Liberty Financial’s WLFI were the best performers.
