Yeliz Akmaca 
Bitcoin (BTC) has dropped below $94,000. The price last reached this level on May 5, marking the lowest point for several months. At the time of writing, BTC was trading at $94,487, down 2.08% in the last 24 hours. During this pullback, $100 million worth of long positions were liquidated in the past 60 minutes.
Market analysts consider this movement a short-term correction and advise investors to remain prepared for volatility. The decline in Bitcoin prices coincides with global economic uncertainties and developments in US-China trade negotiations.
Critical Update on US-China Trade Talks
US Treasury Secretary Scott Bessent stated that the Trump administration aims to finalize a rare earth trade deal with China by November 27. Bessent expressed confidence that China will honor the agreement. This announcement marks a significant milestone in US-China trade relations.
The deal framework currently suspends the implementation of tariffs of up to 100% on goods imported from China. In return, China has agreed to postpone the licensing regime for rare earths and magnets throughout the year. This development is crucial for global technology and defense industries.
Rare Earths and Global Market Impact
Rare earths play a vital role in electronics, electric vehicles, and defense industries. A US-China agreement could strengthen supply chain security, providing a key reference point for technology companies and investors.
By suspending the threat of tariff hikes on critical imports, the US helps reduce global market uncertainty and ensures trade stability. The deal is expected to be completed by the end of the year.
Economic and Political Implications
Experts suggest that finalizing the deal could ease trade tensions between the US and China. Furthermore, securing a reliable supply chain for rare earths offers a critical advantage for technology companies.
Bessent stated, “I am confident that China will honor their agreements,” sending a positive signal regarding ongoing negotiations between the two nations. This statement is considered an important reference for both the US and global economy.
Key Highlights:
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Bitcoin (BTC) dropped to $94,000, down 2.08% in the last 24 hours.
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$100 million worth of long positions were liquidated in the past 60 minutes.
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US-China rare earth trade deal targeted to be finalized by November 27.
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The US suspends tariffs of up to 100% on imported goods from China.
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China agrees to postpone rare earth export licensing throughout the year.
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