Key Takeaways
- China and the US reached crucial agreements on trade during Kuala Lumpur talks.
- Communication channels between both countries have improved for discussing export controls and tariff issues.
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Bitcoin climbed to $113,829 on Friday morning after the US and China agreed to a framework agreement in Kuala Lumpur, resolving several key trade issues, following talks led by China’s Vice Minister of Commerce Li Chenggang.
According to US Treasury Secretary Scott Bessent, the agreement will prevent the US from imposing 100% tariffs on Chinese goods and delay new export controls on China’s rare earth minerals.
The breakthrough came after a sharp flare-up in trade tensions, as Trump’s warnings of triple-digit tariffs and Beijing’s export restrictions on rare earths rattled markets. Bitcoin briefly fell below $104,000, with the weakness spreading across digital assets.
Following Sunday’s trade news, the total crypto market cap hit $3.9 trillion, marking a 2% daily increase, according to CoinGecko’s data.
Over the last 24 hours, Bitcoin edged toward $114,000, Ethereum crossed back above $4,000, and Solana gained more than 3%.
Zcash’s ZEC, Pump.fun’s PUMP, Hyperliquid’s HYPE, and World Liberty Financial’s WLFI were among the strongest performers.