Bitcoin climbing past $115,000 over the weekend came as a bit of a surprise to some traders, and the rally was actually driven by renewed hopes around US-China trade negotiations that reached a preliminary framework agreement in Malaysia. The leading cryptocurrency gained around 3.5% on Sunday, rising from $110,960 to $115,400, which marks a pretty significant recovery. Right now, this momentum is being fueled by easing trade tensions between the world’s two largest economies, and investors are watching closely to see what happens next.
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Bitcoin Climbing Again Amid US China Trade Talks and Price Predictions
Trade Framework Sparks Bitcoin Climbing Rally
The Bitcoin price jumped following announcements from U.S. Treasury Secretary Scott Bessent, who confirmed substantial progress had been made in US-China trade talks over the weekend. The Bitcoin climbing momentum was fueled by relief that the threatened 100% tariffs would actually be avoided, which is obviously good news for risk assets across the board.
U.S. Treasury Secretary Scott Bessent stated in an interview:
“President Trump provided significant leverage with the threat of 100% tariffs, and I believe we have achieved a robust framework that avoids them.”
Chinese Vice Premier He Lifeng also had this to say about the agreement:
“Mutual benefit and win-win results define the relationship.”
The framework agreement was reached after two days of intensive negotiations in Kuala Lumpur, and it includes China’s pledge to postpone rare earth export restrictions along with addressing chemicals used to make fentanyl. At the same time, the US secured agricultural deals for American farmers, which adds another layer to this trade framework.
Market Response and Bitcoin Price Prediction Outlook
Global crypto market cap rose about 1.9% to roughly $3.92 trillion as Bitcoin climbing continued through the weekend. Ether also pushed above $4,040 during this rally. The cryptocurrency is still trading around 6.5% below its October 6 all-time high of $126,000. However, many analysts are maintaining bullish Bitcoin price prediction targets even with this gap.
Tiger Research is forecasting a $200,000 Bitcoin price target for the fourth quarter. This is driven by several factors including global liquidity expansion, continued institutional inflows, and also the Federal Reserve’s rate-cutting stance. The US-China trade framework has restored some investor confidence, though on-chain metrics are suggesting a bit of caution might be warranted right now.
Treasury Secretary Bessent added in his comments:
“President Trump gave me great negotiating leverage with the tariff threat. I believe we’ve reached a very substantial framework that will avoid that and allow us to discuss many other things with the Chinese.”
Bitcoin Climbing Momentum Ahead of APEC Summit
Bitcoin climbing momentum could accelerate even more as the APEC summit approaches this week, where President Trump and Chinese President Xi Jinping are expected to meet and potentially finalize the agreement. This meeting is scheduled for October 31 in South Korea, and it’s being viewed as a crucial moment for both the trade relationship and financial markets.
The Bitcoin price rebound demonstrates just how sensitive cryptocurrency markets are to macroeconomic factors and geopolitical developments. Users on the prediction platform Myriad showed strong bullish sentiment on Sunday, with market greed spiking to 60% earlier in the day before it eased back to around 57.4% versus 42.6% for fear.
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However, it’s worth noting that on-chain metrics have revealed some vulnerability in the current rally. Key indicators such as transaction count and active users haven’t yet confirmed the Bitcoin price rebound fully. This is leaving the near-term trajectory somewhat uncertain according to a report from Tiger Research that was released on Thursday.
Despite these short-term concerns, the longer-term outlook for Bitcoin climbing remains optimistic among many analysts. The US-China trade situation will continue to be a major driver of price action in the coming days and weeks. Any further positive developments could push Bitcoin climbing toward new all-time highs before the end of the year.
