Bitcoin surges past $105k on the heels of a U.S. and China trade deal

WikiBit 2025-05-12 16:52

Bitcoin surpasses the $105,000 threshold after the U.S. and China have reportedly agreed to drastically roll back trade tariffs on each other’s goods for

According to data from crypto.news, Bitcoin managed to break through the $105,000 threshold. At press time, the largest cryptocurrency by market cap has gone up by 1.75% in the past 24 hours. It is currently trading hands at $105,505, reaching its highest peak of the day so far.

Bitcoin‘s market cap currently stands at $2.09 trillion, rising by around 1.76% in the past 24 hours. BTC’s daily trading volume has also experienced a surge following the price jump, increasing by 17.8% compared to the previous day. BTC has been in an ongoing rally since the beginning of the month, rising by 25% in the past 30 days.

News of the temporary tariff cuts between the U.S. and China have not only affected BTC, other major tokens like Ethereum (ETH), Ripple (XRP), and Solana (SOL) have also been pulled along. So far, Ethereum has gone up by more than 2.7%, almost reaching $2,600. Meanwhile, XRP has increased by 2.17% to $2.41 and Solana has soared by 1.6%.

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