Permabull Tom Lee believes that the easing trade tensions between the US and China will benefit Bitcoin, Ethereum, as well as US equities. Bitcoin reached an intraday high of $113,851 earlier this Sunday, according to CoinGecko data. Meanwhile, the Ether price came dangerously close to reclaiming the $4,100 level.
Is a full-fledged US-China trade deal on the horizon? Earlier this month, risk assets suffered a severe setback after the White House announced 100% tariffs on the world’s second-largest economy. The total amount of liquidated cryptocurrency briefly surpassed $19 billion within just 24 hours, marking the largest crypto wipeout ever recorded.
However, recent reports indicate clear signs of de-escalation following high-level talks during the ASEAN summit in Malaysia. The Washington Post reported earlier today that the US had agreed to postpone the 100% tariffs, citing a recent interview with Treasury Secretary Scott Bessent. In return, China has agreed to delay controversial curbs on rare earth metals by one year.
This development has sparked renewed optimism that a comprehensive trade deal between the two superpowers could be reached in the near future, potentially providing a positive boost to both the traditional and crypto markets.
https://u.today/btc-and-eth-to-benefit-from-us-china-trade-detente-tom-lee-claims