Bitcoin Climbs to $104.9K After Trump Hints at 'Total Reset' With China

Bitcoin soared past $104,900 on Saturday evening, gaining 2% in the wake of President Donald Trump’s announcement on Truth Social about a breakthrough in trade talks with China.

Trump’s Truth Social Post Triggers Bitcoin Rally, Altcoin Boom

The bitcoin (BTC) rally extended to major altcoins, with ethereum and dogecoin both posting double-digit percentage gains. Trump posted: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner.”

Trump added:

We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!

The statement followed a high-level diplomatic engagement on Saturday in Geneva, where U.S. and Chinese officials met to de-escalate tensions stemming from recent tariff escalations.

Bitcoin once again is acting as the global liquidity barometer, swiftly reflecting optimism sparked by easing trade tensions between two of the world’s largest economies.

The market response was swift, with traders interpreting the remarks as a signal of easing geopolitical pressure—an environment that often benefits risk assets like bitcoin.

Ethereum’s price jumped over 10% in the last 24 hours rising to $2,600, while dogecoin climbed roughly 21% to nearly $0.25, leading the altcoin rebound. The swift market response reflects just how tightly digital asset valuations are now tethered to geopolitical signals. At press time at 8:45 p.m. Eastern time, BTC is exchanging hands for $104,457 per unit.