Bitcoin Price Rises Above $94,000

By Angus BerwickInvestor relief about a possible easing of U.S.-China trade tensions is extending to cryptocurrencies.Bitcoin recently traded today around $94,230, its highest level since early March, after climbing back above $90,000 Tuesday.Late Tuesday, President Trump reassured markets by saying tariffs on China would "come down substantially" and he didn't plan to fire Federal Reserve Chair Jerome Powell.Treasury Secretary Scott Bessent also told investors Tuesday that a trade deal with China was possible.The comments sparked a stock-market rally, including in tech stocks. Nasdaq-100 futures were recently 2.5% higher. Crypto prices often echo moves in tech stocks.Ether, the second largest cryptocurrency, and XRP, another major token, both gained about 6% from their 4 p.m. prices a day ago.Crypto-sensitive stocks rose in premarket trading, too, with shares of Coinbase Global and MicroStrategy both up over 3%.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).