Bitcoin Surges to $113 on Optimism Over US-China Deal

• Bitcoin Surpasses $113 Boosted by Trading News
• Market reacts to possible agreement between the US and China
• 100% tariff may be withdrawn after negotiations

Bitcoin's unexpected surge this Sunday reignited market enthusiasm, with the asset surpassing the $113.000 mark for the first time since the previous Tuesday. The move comes amid optimistic news from Washington, following statements by U.S. Secretary of State Bessent indicating that China would be willing to reach an agreement that would eliminate the 100% tariff imposed by the current U.S. president.

The episode marks a new chapter in the recent trade tension between the world's two largest economies. On October 10, Donald Trump provoked a strong reaction in the markets by accusing China of unfair practices in sensitive economic sectors and confirming the application of high tariffs on several products, scheduled to begin on November 1.

Now, the mood is high with anticipation surrounding the scheduled meeting between Trump and Chinese President Xi Jinping, which is expected to take place in Europe later this week. Delegations from both countries have already met on several occasions to hammer out details of the potential agreement.

According to information released by Reuters, Trump stated his confidence in reaching a consensus after significant progress in talks between high-level economic officials. This prospect of agreement has resonated positively among investors, especially in the cryptocurrency market, which reacted before traditional exchanges reopened.

The Kobeissi Letter highlighted that this step represents the tenth and final point of Trump's tariff plan, which would culminate in the announcement of an agreement and a subsequent surge in global financial markets.

While traditional markets remained closed this Sunday, the cryptocurrency sector was the first to feel the effects of this optimism. Bitcoin soared to a peak of nearly $113.500 after breaking consecutive resistance levels at $112.000 and $113.000.

The move marks a significant recovery after the sharp drop on October 10, when the asset reached the $101.000 region on some exchanges. The volatility reinforces how geopolitical tensions continue to be a determining factor in cryptocurrency price behavior.