Bitcoin Surges Past $97K on Hopes for U.S.-China Trade Deal; AI Tokens Rally as Kava Hits 100K Users
May 3, 2025, 5:34 a.m.
3 sources
positive
Bitcoin (BTC) soared above $97,000 during Asian trading hours as optimism grew around a potential U.S.-China trade agreement, despite market skepticism that a deal would be reached soon. Dogecoin led major altcoin gains, while Cardano (ADA), XRP, Ether (ETH), and BNB also saw modest rises. The overall CoinDesk 20 index climbed 2.2%. Market activity remains robust, with strong institutional inflows into Bitcoin ETFs, continued spot and derivative market momentum, and broad-based altcoin activity. Speculation about future BTC buys by major players further fueled positive sentiment. Meanwhile, Kava Labs celebrated reaching 100,000 users on its decentralized AI platform, sparking a rally in AI-related tokens, which outperformed the wider market. According to Kava Labs, user attraction stems from the platform's verifiability and privacy, appealing to both Web3 natives and users seeking alternatives to centralized AI.
Positive sentiment and institutional ETF inflows, along with easing trade tension hopes, historically drive strong BTC rallies. Short-term upside likely, especially with strong momentum indicators.
Dogecoin led gains among majors with a 4% rise, reflecting rising risk appetite in altcoins. Positive market mood and trading volume could fuel further short-term boosts.
ADA followed market sentiment with a 1–3% rise. Historically, bullish BTC and altcoin flows provide ADA with tailwinds. Sustained sector optimism may drive incremental gains.
XRP joined other majors with a modest gain. Broader risk-on sentiment and ETF inflows historically support price growth, but no unique catalyst present for outsized move.
ETH saw moderate gains, buoyed by bullish sentiment and improving spot flows. Past surges in BTC often correlate with ETH rallies, both short-term and as momentum spills into DeFi.
BNB rose alongside other majors as risk appetite and liquidity improve across crypto markets. Historical trends show BNB performing well during altcoin rallies spurred by BTC surges.
Kava hit 100K AI platform users, strengthening its decentralized AI narrative and attracting new users. Historical milestone-driven rallies suggest further upside, especially for AI-focused assets.
Sources
Bitcoin Surges Past $97,000 as Market Enthusiasm Grows
COINTURK NEWS
02.05.2025 05:51
Bitcoin Jumps Above $97K as Traders Optimistic U.S.-China Trade Deal Possible
CoinDesk
02.05.2025 05:04
Bitcoin price today: steady at $97k amid US-China hopes; Strategy to buy more BTC
investing.com
02.05.2025 14:24
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