BTC/USD: Bitcoin Chases $106,000 as Traders Cheer 90-Day US-China Trade Agreement

A 90-day truce with lowered tariffs helped crypto get back into its groove and now Bitcoin is just $3,000 away from its record. 🔥 Bitcoin Eyes $106,000Bitcoin pushed higher early Monday, climbing to $106,000 as crypto markets cheered a newly minted 90-day tariff truce between the US and China. The flagship digital asset is now just $3,000 shy of its all-time high, and traders seem eager to push it over the line. But as with any other crypto rally, it may or may not have legs to climb further to the upside. For now, the novel asset class is enjoying the news that the US and China have agreed on a trade truce. 🚀 Risk-On Rally, Initiate!The surge followed the announcement that both nations have agreed to slash import tariffs — the US dropping its rate from 145% to 30%, and China cutting from 125% to 10%. The move de-escalated weeks of tension and reignited risk appetite across global markets, with . The US dollar was also in . "We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process," US Treasury Secretary Scott Bessent said in a news conference. "We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%," Bessent said. 🤔 Momentum Building — But for How Long?The fresh rally in Bitcoin adds to a powerful upside swing that kicked off at its April lows of . Since then, the coin has added a solid 40% to its price and is now flexing a valuation of more than $2 trillion. Year to date, however, the OG token has been a bagholding asset with returns of just about 10% to 12%. Still, the price is 4% away from its set in January. A new all-time high coming soon? Or is this one a fakeout?