Bitcoin Tops $97,000 on News of U.S.-China Tariff Talks

U.S. Secretary of State "China Wanted to Talk and Started Talking"
China's "Negotiation With U.S Is Underway as U.S's Request"
BTC Breaks $97,000 On May. 2...Altcoin, 2% Rise on Average

The cryptocurrency market, including Bitcoin(BTC), rose on May. 2 as news broke that the U.S. and China were negotiating behind-the-scenes over the tariff war.

U.S. Secretary of State Marco Rubio said in an interview with Fox News on the 1st, "China is reaching out to us and wants to meet and talk to us. We are also involved in the process."

On the other hand, China's Ministry of Commerce said in a spokesman statement, "We are paying attention to the fact that senior U.S. officials have expressed their position several times to express their willingness to negotiate with China on the tariff issue, and the U.S. side has recently actively delivered a message to China several times and hopes to negotiate," adding, "China is currently conducting an evaluation."

The asset market rebounded and the cryptocurrency market rose as news broke that the two countries that shook the global asset market were negotiating.

A number of altcoins rose more than 2% on the 2nd, including Bitcoin topping $97,000.

◇Bitcoin = Bitcoin price is $96,656 at 4:30 p.m. on Apr. 30, 2025. The Bitcoin share(dominance) was 64.87%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 36.35% and 63.65%, according to the on-chain analytics platform Sigbtc.

With Bitcoin's recent rise, there have been opinions predicting Bitcoin's rally, with its price breaking the break-even point of long-term holders.

Marton, who was interviewed by cryptocurrency media VinCrypto on the 2nd, pointed out that long-term holders of bitcoin for more than six months began to make profits due to the surge in bitcoin.

The break-even point of Bitcoin for long-term Bitcoin holders is $99,890. Bitcoin surged more than 12% last week and surged on the afternoon of the 1st to surpass $97,000.

If short-term Bitcoin holders secure profitability, there have been many phenomena in which large-scale selling of Bitcoin actually decreases.

Marton also pointed to the fact that the Bitcoin hash rate hit 1.04 zeta hash (ZH/s) last month, hitting a new all-time high.

◇Upside Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on May. 2 was PUNDI X(PUNDIX), up about 10% on the day alone. PUNDI X surged for the third consecutive day following the 29th and 30th of last month.

PUNDIX is a project to operate a P2P payment system that distributes XPOS, a digital asset payment and transaction force, to various retailers so that users can purchase and sell products through digital assets. PUNDIX is being used for XPOS payment and incentives.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 67 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 60.3, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr