Bitcoin’s surprising surge continued, surpassing $113,000 for the first time since Tuesday. This rise follows encouraging news from US Treasury Secretary Bessent, who indicated that China is poised to pursue a trade agreement aimed at alleviating the 100% tariffs imposed by President Trump.

BREAKING: US Treasury Secretary Bessent states that China is “ready” to negotiate a trade deal with the US after two days of talks. The agreement is expected to lift the tariffs set to take effect on November 1.
*(Translation: BREAKING: ABD Hazinesi Sekreteri Bessent, Çin’in, ABD ile bir ticaret anlaşması için “hazır” olduğunu söyledi. Anlaşmanın 1 Kasım’da yürürlüğe girmesi planlanan tarifeleri kaldırması bekleniyor.)
— The Kobeissi Letter (@KobeissiLetter) October 26, 2025

Recall Donald Trump’s unexpected market disruption on October 10 when he alleged deceitfulness from China regarding sensitive economic matters, leading to the proposed 100% tariffs.

As negotiations continue, both delegations are set to meet this week in Europe, signaling a potential thaw in relations. According to a recent Reuters report, economic leaders from both nations have reached a preliminary agreement in trade discussions.

The Kobeissi Letter highlighted that this is the final step of Trump’s tariff strategy, which includes introducing a new deal and possibly stalling financial markets’ freefall.

In the midst of this news, Bitcoin has reached a peak of approximately $113,500 after initially bouncing back from previous lows of $101,000.

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The primary winner in this scenario has been the cryptocurrency sector, as Bitcoin maintains upwards momentum, benefitting from investor optimism.