According to the White House, both nations agreed to lower their respective tariffs by 24%, bringing them down to 10%, starting May 14. Speaking at a press conference in Geneva, US Treasury Secretary Scott Bessent emphasized that neither side wants to pursue further economic decoupling.

Bitcoin Nears Record High as Risk Sentiment Improves

Aurelie Barthere, principal research analyst at crypto intelligence firm Nansen, noted that the easing of trade tensions removes the risk of a “sudden re-escalation,” making room for risk assets to catch up with Bitcoin’s gains.

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“Bitcoin is already trading within 4.8% of its all-time high of $109,800,” she said. “With this trade breakthrough, altcoins, US equities, and the Dollar Index (DXY) are now well-positioned for a rebound.”

Barthere also pointed out that Bitcoin has outperformed traditional risk assets recently due to its independence from tariff-related vulnerabilities.

Tax Cuts Could Fuel Second Wave of Rally

Another major catalyst may be on the horizon. Bessent hinted that a tax relief package could be unveiled by mid-July. According to Barthere, this package would need to go beyond extending expiring cuts — it must also include new income and corporate tax reductions to sustain the rally.

Paired with emerging bull flag patterns on the weekly chart, analysts are already forecasting a potential surge in Bitcoin price towards $150,000, should all elements align.

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