Markets rose and investor sentiment soared after the United States and China announced sweeping reductions in trade tariffs, signaling a major easing in economic tensions.
Bitcoin (BTC) reacted quickly, breaking the $104,000 mark, while crypto advocate Arthur Hayes said on X: “Buy everything.”
Arthur Hayes Urges Investors to ‘Buy Everything’ as US-China Trade War Cools and Bitcoin Rises Above $104K
Beijing will reduce tariffs on US goods from 125% to 10%, while Washington will reduce tariffs on imports from China from 145% to 30%, the White House said today.
These changes, which will come into effect on May 14, will be valid for 90 days and are seen as an important step towards restoring global trade flows.
Crypto and Stocks Respond Positively
The announcement sparked a positive reaction in financial markets, with Bitcoin trading above $104,100 and Ethereum trading at $2,500, with the total cryptocurrency market cap up 1%. Altcoins like XRP and ADA also saw gains, while the GMCI 30 Index rose over 2%.
U.S. stock futures followed suit, with contracts tied to the S&P 500, Nasdaq, Dow Jones and Russell 2000 rising more than 2% in premarket trading. Gold, meanwhile, retreated 3% after recently reaching new highs.
*This is not investment advice.