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US Considering Easing Some Export Restrictions
Market Reacts Positively, Bitcoin Back to $110,000
US Considering Easing Some Export Restrictions
Bloomberg reported that the US delegation, consisting of Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, met with the Chinese delegation led by Vice Premier He Lifeng, accompanied by Commerce Minister Wang Wentao and Trade Representative Li Chenggang. The phone call between Trump and ### last week was seen as a key catalyst for this round of negotiations, as both sides hope to rebuild trust through dialogue.
It is reported that the US released signals of concessions during the talks, possibly lifting recent export restrictions on chip design software, aerospace parts, chemicals, and nuclear materials, on the condition that China must lift its export restrictions on rare earths. Rare earths are essential raw materials for key industries such as smartphones, fighter jets, and nuclear reactors, with China accounting for nearly 70% of global supply.
White House economic advisor Kevin Hassett stated that if the negotiations go smoothly, it is expected that both sides can reach a preliminary consensus of “exports for rare earths.” However, he added that the US will not lift export restrictions on “advanced AI chips (such as Nvidia H2O).”
After the talks, both sides did not disclose details of the results, but the US stated that the talks were “productive.” President Trump told the media:
“We’re doing pretty well with China. We want to open up the Chinese market.”
The market is closely watching the progress of US-China negotiations, and the optimistic attitude after the meeting has stabilized investors’ confidence in US stocks.
Meanwhile, Bitcoin saw a significant surge today, returning to the $110,000 level, while Ethereum also broke through $2,700. The rise in Bitcoin caught leveraged traders off guard, liquidating short positions worth over $110 million in just one hour. On that day, a total of $438 million was liquidated globally in the past 24 hours.
An analyst at Bitfinex pointed out in a report on Monday that with Bitcoin falling by 10% to nearly $100,000 and over $1.9 billion in crypto derivatives liquidated in the past week, the cryptocurrency market is currently on a more stable foundation after the excessive leverage, possibly gearing up for the next round of uptrend. However, the analyst added that on-chain data indicates increasing selling pressure from long-term holders, which could pose a challenge to the uptrend.
“Bitcoin is now at a crossroads—balancing between structural support and weakening bullish momentum, waiting for the next macro clues.”
On the other hand, Jake O, an over-the-counter trader at crypto market maker Wintermute, stated that these macro catalysts might emerge later this week.
“US and Chinese trade representatives are scheduled to hold talks today, following last week’s positive momentum, the market may be sensitive to any headline news, and the Consumer Price Index (CPI) to be announced on Wednesday will provide new insights into US inflation.”