Bitcoin Surges Past $96,000 Amid US-China Trade Talks

The Bitcoin market is witnessing a significant surge, continuing its rally that began on April 20, 2025. As of today (May 7, 2025), it is valued at nearly $97,000. Bitcoin has risen alongside Asian stocks and a strengthening dollar following news that the U.S. and China plan to conduct trade negotiations. The second-ranked Ether also saw an increase of up to 4.2%. This rally followed reports that U.S. Treasury Secretary Scott Bessent and Trade Representative James Grier will meet with the Chinese government in Switzerland this week, raising hopes that the world’s two largest economies may reach an agreement to ease trade tensions. Meanwhile, India announced targeted military strikes against Pakistan, which claimed to have shot down five Indian aircraft. Digital asset intermediary FalconX noted ‘renewed interest in Bitcoin at the top’ as the market appears optimistic about positive trade talks over the weekend, according to Sean McNulty, APAC head of derivatives trading at the company. Demand for bullish exposure in options markets has increased, focusing on call options with strike prices of $100,000, based on data collected by Deribit, the largest crypto derivatives exchange.