Bitcoin, altcoins poised to rally on US-China tariff agreement
The constructive tone of tariff negotiations removes the risks of “sudden re-escalation,” potentially paving the way for risk assets to surpass their January peaks, analysts said.
A 90-day tariff agreement between the US and China may set the stage for a broader recovery of stock and cryptocurrency markets, as investors look ahead to a potential tax relief package.
The White House announced on May 12 that the two countries will reduce their respective tariffs to 10% for an initial 90-day period beginning May 14 — a 24% cut from current levels.
Speaking at a press conference in Geneva, US Treasury Secretary Scott Bessent said both governments are aligned on avoiding further economic decoupling.
Read more
