US-China tariff deal boosts crypto: Bitcoin and Ethereum on the rise
With the US and China reaching an agreement on customs tariffs, the value of the global cryptocurrency market has risen by more than 1 percent in a single day.
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According to analysis data from Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, has increased by 1.04 percent in the last 24 hours, surpassing 3 trillion 370 billion dollars.
Experts emphasize that the agreement reached by the US and China on customs tariffs has increased investors' appetite for risk, which in turn has had a positive impact on high-risk assets such as the cryptocurrency market.
In order to resolve the ongoing trade and tariff disputes between the US and China, the parties met in Geneva, Switzerland, last weekend and reached an agreement on certain issues. According to the agreement, it was decided that the US would reduce customs tariffs on Chinese products from 145 percent to 30 percent for a period of 90 days, and China would reduce taxes on US products from 125 percent to 10 percent.
Following the announcement of the agreement between the US and China, the price of Bitcoin exceeded 105 thousand dollars, before retreating to 104 thousand 531 dollars as of 14:00 TSI.
Ethereum, which ranks second in terms of market value, gained 1.88 percent in the last 24 hours, rising to the 2 thousand 563 dollar level.