Bitcoin Surges as Trump Hints at Major Deal with China

Main Takeaways:-At present, Bitcoin is trading only 4% below its all-time high, lifted by encouraging U.S.-China trade discussions.US-listed Bitcoin ETFS reached above $1 billion in inflows, with BlackRock’s asset continuing a 19-day streak of wins.According to the reports of TradingView, it shows that Bitcoin rose to a high of $104,900 on Saturday evening, only about 4% below its highest ever value, after President Donald Trump said US-China talks had made big steps forward in a meeting in Switzerland.In an announcement on Truth Social, Trump said that the talks were productive and cordial, explaining the outcome as a fresh start. He said they agreed to completely restart their relationship and try again to open Chinese markets to American businesses.Markets saw the statement as a good sign that global tensions were easing, which helped push Bitcoin even higher, adding to the strong rise earlier in the week from big-picture and institutional support.Bitcoin’s Latest Jump Boosted by Fed’s Flexibility and ETF DemandMultiple factors have sustained Bitcoin’s upward trend.On Wednesday, Fed Chair Jerome Powell mentioned the central bank’s willingness to lower interest rates if needed, calming markets as inflation stays under control and trade tensions ease. Bitcoin topped $99,000 mid-week before continuing its rise to $100,000.According to Bitfinex experts, the move over the $100,000 shows genuine demand, not stable entry.Experts also observed robust spot ETF inflows, strong on-chain assumption, and dropping exchange funds as a signal of genuine demand.US-listed spot Bitcoin ETFs noted strong results this week, with total inflows surpassing $1 billion and net inflows of above $920 billion on four out of five good trading days, according to data from Farside Investors.BlackRock’s iShares Bitcoin Trust kept its spot as the biggest Bitcoin fund, with a winning streak that reached 19 days in a row.Bitcoin’s Corporate League Welcomes New ContendersOn the other hand, more companies are starting to use Bitcoin, including well-known ones like Strategy, MARA Holdings, and Metaplanet are still collecting Bitcoin while new Bitcoin-focused companies start up.Earlier this week, Strive Asset Management, supported by Vivek Ramaswamy, said it will merge with Asset Entities to create a new public company focused on holding Bitcoin. The new company wants each share to give investors as much Bitcoin value as possible and plans to raise up to $1 billion by selling shares and taking loans.According to the reports of CNBC, on Wednesday, BTC Inc. CEO David Bailey raised $300 million for Nakamoto, a new Bitcoin investment firm. The company got $200 million by selling shares and another $100 million through loans that can turn into shares. It plans to become a public company this summer by joining with another company listed on the Nasdaq.These new businesses started after Cantor Fitzgerald teamed up with Tether and SoftBank to launch Twenty One, a Bitcoin-focused company that wants to collect over 42,000 bitcoins. Led by Jack Mallers, the company plans to create financial products based on Bitcoin.Read also:- Pi Is Almost $1 — Here’s How to Get In on the ActionDisclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.