Bitcoin Price Today: Surpasses $97,000 as US-China Talks Resume, MicroStrategy Continues to Buy
Bitcoin surged on Wednesday amid a more positive global market sentiment following the news that the US and China had resumed trade talks in Switzerland. Additionally, MicroStrategy’s (MSTR) purchase of hundreds of millions of dollars in Bitcoin further bolstered investor confidence in the leading digital currency’s recovery.
As of 09:48 ET (13:48 GMT), Bitcoin (BTC) was up 3.5% at $97,211, approaching the $100,000 mark – a key psychological threshold that has been repeatedly tested over the past three months.
Markets react positively to US-China trade talks
Bitcoin and other risk assets reacted positively after the White House confirmed that senior US and Chinese officials will hold high-level trade talks in Switzerland this week. Although there is no clear roadmap for a deal, the resumption of negotiations between the world's two largest economies is a positive sign.
While US President Donald Trump has said he is in no rush to sign any deal, investors hope that the talks could cool down the protracted tariff war that has negatively affected market sentiment over the past period.
Due to its highly speculative nature, Bitcoin is sensitive to market sentiment and tends to rise when global risks ease.
MicroStrategy Buys Nearly 1,900 More BTC, Worth $180 Million
Cryptocurrency software and investment firm MicroStrategy – currently the world’s largest Bitcoin holder – announced that it has purchased an additional 1,895 BTC for $180 million. The deal comes shortly after the company revealed plans to raise $21 billion through a stock offering to buy more Bitcoin.
While the purchase is smaller than previous deals, it is still a testament to MicroStrategy’s long-term strategy of accumulating Bitcoin despite short-term volatility.
Ethereum Deploys “Pectra” Upgrade – Scalability Improvements
Meanwhile, Ethereum (ETH) – the second largest cryptocurrency – has officially launched its major “Pectra” upgrade, which is considered the most important step since “The Merge” in 2022. This upgrade focuses on improving staking efficiency, wallets, and overall network performance.
One of the most important changes is raising the staking limit from 32 to 2,048 ETH, which helps consolidate large staking activities, reduce fragmentation, and improve scalability.
ETH rose 3.7% to $1,833.37 after this news.
Altcoins increased slightly, meme coins continued to make waves
Other cryptocurrencies also rose in unison following Bitcoin’s momentum. XRP rose 1.9% to $2.13, Solana rose 3.1%, Cardano rose 4%, while Polygon gained 1.5%.
Among the meme coins, Dogecoin jumped more than 4% and $TRUMP, the coin inspired by former President Donald Trump, also rose around 3%.
Conclusion
Bitcoin is approaching a strong resistance level at $100,000 amid less concerns about macro risks in the global financial market, plus continued support from major organizations such as MicroStrategy. If the supporting factors continue to maintain, the possibility of BTC breaking out into the six-digit price range will be the focus of attention in the coming time.