Reporting by the Financial Times on Friday revealed that U.S. Treasury Secretary Scott Bessent expects the recently negotiated U.S.-China trade deal to be officially signed “over the coming week.” The agreement comes in the wake of what U.S. President Donald Trump described as “a truly great meeting” with Chinese leader Xi Jinping on Thursday. Bitcoin climbed 2.62% on the news, with stocks also reacting positively.

(U.S. President Donald Trump and Chinese President Xi Jinping come out of their highly-anticipated meeting in Seoul, South Korea on Thursday.)

A trade war erupted when China suddenly imposed export controls on rare earth minerals at the beginning of the month. The East Asian nation claims it was merely retaliating after the U.S. jacked up tariffs and fees on incoming Chinese maritime vessels. The resulting tensions triggered a market sell-off, causing the largest liquidation in crypto history.

But pressures soon eased between the world’s two largest economies and when both presidents attended the Asia-Pacific Economic Cooperation (APEC) Summit in Seoul, South Korea on Thursday, a high stakes meeting was arranged, and Trump emerged from it beaming.

“There is enormous respect between our two Countries, and that will only be enhanced with what just took place,” Trump said. “We agreed on many things, with others, even of high importance, being very close to resolved.”

And now, Bessent has confirmed that some of those unresolved issues have indeed been handled, and an official 12-month trade agreement will be inked within days. Beijing will pause its export controls on rare earths, and in return, Washington will slash its 20% “fentanyl tariffs” in half, in addition to loosening other recently imposed trade restrictions. China will also allow U.S. investors to acquire a stake in the American subsidiary of TikTok, the popular social media company owned by Chinese tech firm ByteDance.

“Everything’s ironed out in terms of the permissions,” Bessent said in reference to the TikTok deal. “We should see a transaction very soon.”

Bitcoin was trading at $109,777.25 at the time of writing, gaining 2.62% in 24 hours but shedding 1.07% over seven days. Coinmarketcap data shows the cryptocurrency peaking at $111,031.82 and bottoming out at $106,376.69 since Thursday.

( Bitcoin price / Trading View)

Trading volume stood at $65 billion after increasing by 5% since yesterday, and market capitalization climbed to $2.19 trillion. Bitcoin dominance was down ever so slightly, easing 0.03% to reach 59.87%.

( Bitcoin dominance / Trading View)

Total value of bitcoin futures open interest fell 1.81% to $71.21 billion, based on Coinglass data. Liquidations reached a grand sum of $113.14 million, with shorts making up $64.71 million of that total. The remainder came from long investors, who lost a slightly smaller $48.43 million in liquidated margin.

• Why is bitcoin rising again?
  BTC gained over 2% after U.S. Treasury Secretary Scott Bessent confirmed the U.S.–China trade deal will be signed next week.
• What’s in the new trade agreement?
  China will pause rare earth export controls, while the U.S. will cut tariffs and ease other trade restrictions on Chinese entities.
• How did markets respond?
  Both stocks and crypto moved higher, signaling renewed optimism after weeks of trade-related volatility.
• What does this mean for Bitcoin investors?
  Analysts see the deal as short-term relief for risk assets, but warn volatility could return if implementation stalls.

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