BTC rises on news of US-China talks...Risk acceptance sentiment spreads

Finally, us-china that started tariff negotiations (Source: Reuters)

Bitcoin (BTC) showed an upward trend in response to the news of the US-China Switzerland meeting. The Block reported that after the US-China meeting announcement, BTC rebounded as market demand for risk assets recovered.

Peter Chung, Head of Research at the Quant Trading company Presto, said, "The timing of the decline in gold, a representative safe asset, and the rise in risky assets such as the Nasdaq index and Bitcoin coincided with the announcement of the US-China meeting," adding, "This is a signal that the market is switching back to risk-on mode."

The Block also added, "As geopolitical uncertainty grows amid increasing military tensions between India and Pakistan, BTC is gaining attention as a risk hedge asset."

Market experts are reinforcing the view that Bitcoin can replace the role of a safe asset as Digital Gold amid geopolitical conflicts. Especially if the US-China negotiations show positive progress, there is a high possibility of further expansion of risk asset preference sentiment, and additional upward movement of Bitcoin is anticipated.