Bitcoin saw a significant rally over the weekend, almost reaching $105,000 before a slight pullback to $104,500, driven largely by a trio of positive macroeconomic and geopolitical developments.
The surge was most notably triggered by a social media post from President Trump detailing successful trade negotiations between the US and China held in Switzerland. Trump described the meeting as "very good," mentioning progress, mutual agreements, and a "total reset" of relations, heralding new economic opportunities for American businesses.
On the same day, President Trump also announced a "full and immediate" ceasefire in escalating hostilities between India and Pakistan, further contributing to international market optimism. Additionally, Russian President Putin expressed openness to "serious talks" with Ukraine, proposing negotiations without preconditions in Turkey the following week. These geopolitical developments have reduced market uncertainty and encouraged bullish sentiment in financial markets, particularly within cryptocurrencies.
As a result, Bitcoin's price rallied strongly, echoing previous patterns of price increases following major diplomatic breakthroughs or shifts toward global stability. Ether (ETH) also outperformed, gaining 7.7% over the same period. Market analysts highlighted that a weakening US dollar and falling bond yields added further momentum to the cryptocurrency space, while institutional players, such as BlackRock, reportedly increased their Bitcoin exposure. Overall, the mood remains optimistic, with expectations of possible new all-time highs and increased institutional participation in the cryptocurrency sector.