Key Points:
- Crypto prices surged during the early hours of Saturday in the U.S.
- Positive economic updates included a ceasefire in India-Pakistan tensions, progress in U.S.-China trade discussions, and potential talks between Ukraine and Russia.
- Bitcoin approached $105,000, marking its highest level since late January.
The crypto market saw a substantial recovery over the weekend, largely driven by three significant macro developments.
Most notably, President Trump shared a post on Truth Social regarding trade negotiations in Switzerland between the U.S. and China.
“A very good meeting today,” Trump stated. “Many things discussed, much agreed to. A total reset negotiated in a friendly but constructive manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”
Additionally, Trump announced a “full and immediate” ceasefire in the escalating conflict between India and Pakistan. Furthermore, Russian President Putin expressed his readiness for serious discussions with Ukraine, suggesting meetings without preconditions are possible.
Bitcoin rose to just under $105,000 before settling back to approximately $104,500, reflecting a 1.5% rise in the last 24 hours. Meanwhile, Ether continued to perform well with a notable increase of 7.7% during the same period.
