Stephen Miran’s suggestion of easing U.S.-China tariffs sent Bitcoin surging past $97,000, highlighting crypto’s sensitivity to global trade shifts.
At a Glance
- Bitcoin surged to $97,821.99 following U.S.-China tariff relief speculation
- Global crypto market cap jumped by $30 billion within one hour
- Miran hinted at tariff cuts “within weeks,” lifting investor confidence
- Trade tensions have previously driven volatility and crypto sell-offs
- China’s Commerce Ministry confirmed openness to renewed talks
Tariff Signals Boost Crypto Markets
Bitcoin soared to $97,821.99—its highest level since February 21—after Stephen Miran, a senior economic adviser to President Donald Trump, suggested that U.S. tariffs on Chinese goods could be reduced “within weeks.” The remark, made during a recent televised interview, triggered a $30 billion surge in global crypto market capitalization, as reported by Yahoo Finance.
Watch the full market reaction breakdown at CNBC Crypto Update – U.S.-China Trade Impact.
This bullish wave reflected optimism among digital asset investors who saw tariff rollbacks as a potential boost to cross-border trade, economic growth, and asset demand. According to Cointelegraph, cryptocurrencies—often viewed as safe havens during inflation—are now increasingly influenced by macroeconomic diplomacy.
Lingering Friction and Market Risk
Despite the optimism, the broader context remains tense. Current tariff levels include 145% on U.S. imports from China and 125% reciprocated by Beijing. A 104% tariff hike implemented in late April triggered a $250 billion decline in crypto market cap, highlighting the asset class’s vulnerability to geopolitical shocks.
“The president has been very clear that he thinks there will be a deal with China,” Miran told Yahoo Finance, further fueling hopes of renewed negotiations.
China’s Commerce Ministry responded cautiously, saying it had “noticed” U.S. leaders’ willingness to engage on tariffs and was “evaluating” the potential for further dialogue.
Strategic Shifts in the Crypto Landscape
The trade war has shifted crypto’s identity from an inflation hedge to a barometer of global risk sentiment. Volatility from tariff changes has also driven interest in stablecoins and blockchain infrastructure for cross-border transactions.
Stephen Miran’s remarks—though not part of formal trade negotiations—hint at an evolving U.S. approach. The proposed extensions of the 2019 “phase one” deal signal a return to structured diplomacy and the possible reintegration of China into global supply chains.
As Bitrue reported, future crypto growth hinges not just on tech adoption but also on regulatory and geopolitical clarity.
While the path forward is uncertain, signs of de-escalation may help stabilize crypto markets—and potentially fuel their next breakout phase.
