- Bitcoin and altcoins rally following progress in US-China trade negotiations.
- Ethereum and XRP rebound sharply from April lows amid renewed market optimism.
- Conor McGregor calls for an Irish Bitcoin reserve, fueling further bullish sentiment.
Bitcoin and the broader crypto market are poised to maintain their upward trend amid favorable developments in ongoing trade talks between China and the U.S.
On Saturday, U.S. and Chinese officials met in Switzerland to de-escalate the tariff war, during which both countries had imposed tariffs of over 100% on imports from each other. The initial tariff announcement in April unsettled financial markets, including crypto. However, a relief statement from President Trump later brought renewed optimism.
The biggest boost to the crypto market came last week after news broke that the U.S. and China would hold negotiations over the weekend. The talks have since taken place, and early updates have been largely positive.
Related: Fed’s Crucial Move Ahead: What’s Next for the U.S. Economy and Bitcoin?
“Great Progress” in US-China Trade Talks
Specifically, U.S. President Donald Trump praised the trade discussions in Switzerland as a “total reset,” conducted in a friendly and constructive manner. He claimed “great progress” had been made, though he did not provide specific details.
The high-stakes meeting in Geneva involved top U.S. and Chinese officials aiming to ease a trade war that has disrupted global markets. While both sides kept most details confidential, they agreed to continue negotiations.
China and the U.S. disagreed on who initiated the talks, with China pushing back against what it sees as U.S. interference. Despite modest expectations, the talks were broadly viewed as a positive step forward.
Bitcoin, Ethereum, XRP Rally — More Gains Ahead?
Notably, the initial announcement of the trade talks saw Bitcoin break the $100K price point. The leading cryptocurrency surged to $104,961 before settling slightly lower.
The broader altcoin market also benefited from Bitcoin’s rally. Ethereum reclaimed the $2,600 level after falling to $1,350 in April during the height of trade tensions. The second-largest crypto asset has now rebounded by 92.59%.
XRP also posted notable gains, reaching close to $2.50 on Saturday, after previously dipping to $1.61 in April. This marks a strong 55% recovery from its recent low.
With the positive momentum from the US-China trade developments, the crypto market is holding onto gains, and analysts project further explosive growth in the coming weeks.
Related: Altcoin Season 2025 Arrives as Bitcoin Dominance Falls
Fresh Endorsement and Call for Irish Bitcoin Reserve
Another factor seen as a bullish signal is the recent Bitcoin endorsement by Conor McGregor, a five-time world champion. In a tweet on Friday, he stated that crypto was originally founded to give power back to the people, and that establishing an Irish Bitcoin strategic reserve would empower the nation’s financial sovereignty.
In parallel, he promised to host an X Space to discuss the changes he hopes to see, declaring, “Victory to Ireland.”
McGregor’s statement aligns with the global trend of countries exploring national Bitcoin reserves, with the U.S. leading the conversation.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
