Crypto prices are rising on positive US-China trade deal news, with BTC hitting $97,500 before a slight pullback. US Treasury Secretary Bessent confirmed meetings with China’s Vice Premier to negotiate trade. Amid broader market optimism, experts are eyeing Bitcoin and various altcoins like Litecoin and Onyxcoin as top purchases, with predictions of Bitcoin reaching $150k to even $200k this year. The Fed’s upcoming meeting could further influence crypto valuations.
The cryptocurrency market is showing unexpected strength amid uncertainty surrounding the FOMC meetings, boosted by promising news of a possible US-China trade deal. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with Chinese officials in Switzerland this week to negotiate what they hope will be a “fair trade” agreement. Both Bessent and Chinese Vice Premier He Lifeng confirmed the talks, resulting in a notable uptick in financial market activity. Interestingly, US stock futures seem positive early on Wednesday, despite looming FOMC decisions later in the day.
Bitcoin prices soared to around $97,500 following the news but have since pulled back slightly to $96,500 as of press time. Meanwhile, several altcoins like Litecoin, Onyxcoin, and Worldcoin are also experiencing positive momentum and being named as the best options to buy right now. The overall bullish sentiment hints at a potentially exciting period for crypto investors.
As for the broader implications, the effects of the US-China trade situation on cryptocurrency prices could be profound. There’s a saying among traders: “Show me the chart and I will tell you the news.” Currently, global liquidity, measured by the Global M2 money supply, indicates that a new crypto bull market may be underway. In fact, charts from Global Macro Investor’s CEO, Raoul Pal, suggest a strong correlation between Bitcoin and the M2 money supply, with prices possibly climbing above $140,000 this year.
Interestingly, the surge in the global money supply could potentially set higher targets for Bitcoin this year. A successful US-China trade deal might just be the catalyst needed to send Bitcoin and altcoin prices soaring to unprecedented heights.
Recently, Bessent took to X, outlining his focus on “fair trade” as he prepares for this weekend’s discussions in Switzerland. However, it’s worth noting that a trade deal, while desirable, currently remains uncertain. Still, Bessent’s engagement with Vice Premier He Lifeng offers a glimmer of hope for an easing of the tariff confrontations between the superpowers.
All eyes are firmly fixed on the FOMC meeting today, especially Fed Chair Jerome Powell’s upcoming address. The central bank is widely expected to maintain its target rate at a range of 425 to 450 basis points, but Powell’s approach could change the narrative completely. If he adopts a dovish stance in response to concerns from last week’s negative US Q1 GDP data, we could see cryptocurrencies react favourably.
Should Powell hint at aggressive rate cuts or potential Quantitative Easing, we can expect a strong market rally. Such optimistic signals might empower Bitcoin to break through the crucial $99,000 resistance level, which could pave the way for a new all-time high.
When it comes to the best altcoins to buy right now, experts still favour Bitcoin as a prime pick. Predictions for Bitcoin hitting $150,000 this year seem to have gained traction, with some bullish forecasts even suggesting the potential for a $200,000 value during this bull run.
In the hunt for opportunities, savvy investors are also intrigued by new entries like BTC Bull (BTCBULL), which has reportedly raised over $5 million in presale amid rising demand. Holders of BTCBULL can earn free Bitcoin and take part in token burns and airdrops linked to key price milestones. The first token burn is expected when Bitcoin hits $125,000, while an early airdrop at $150,000 might occur in the current quarter.
On another note, those sitting on the sidelines should explore investments in the AI crypto sector. Established blue-chip cryptocurrencies like Bittensor, Virtuals Protocol, and Fartcoin present solid options. A noteworthy newcomer, Mind of Pepe (MIND), has already garnered significant attention, raising roughly $9 million in presale. This small-cap AI coin is attracting hefty six-figure investments from whales ahead of its AI agent debut scheduled for May 10th, with the presale concluding on May 31st. Similar to BTCBULL, early investors are anticipating potentially high returns.
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