This Sneaky Meeting Made Bitcoin Go Bonkers—But Will It Hit the Wild $100K Jackpot?

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  • Once upon a Tuesday, Bitcoin tiptoed up to a dizzy $97,000, peeking at the number like a kid eyeing forbidden cake, all because the U.S. and China decided to have a little chat in Switzerland. 🇨🇭🍫
  • Meanwhile, over at Polymarket, betters were about as optimistic as a cat in a rainstorm, with chances of a trade deal sitting pitifully below 30%.

Imagine this: Bitcoin [BTC] vaults up to $97K just as news leaks of the grand diplomatic tea party between the U.S. and China in Switzerland—where deal-making and fondue threaten to break out at any moment.

The U.S. Treasury, feeling generous, shared,

“While in Switzerland, Secretary Bessent will also meet with the lead representative on economic matters from the People’s Republic of China (PRC).” (Translation: They’re trying to play nice. Emphasis on ‘trying.’)

Will This Global Spat Send Bitcoin To The Moon? 🚀

In a plot thicker than chocolate fondue, President Donald Trump cranked tariffs up to 145% on Chinese goodies. Never ones to back down from a good squabble, China smacked back with a 125% tariff. Markets everywhere groaned, including cheeky little Bitcoin.

At one point, BTC slipped and slid from $88K straight to $74.5K—a nosedive worthy of a slapstick cartoon sound effect. Then, just as suddenly, late April brought hope (a rare guest at tariff parties): Trump hinted at a possible deal.

This upcoming Swiss showdown is the first face-to-face in the “Tariff Tango,” and everyone’s wondering if it’ll finally let Bitcoin out of its leash.

Straight from the Chinese embassy (no fortune cookies included),

“As China’s lead on China-U.S. economic and trade affairs, Vice Premier He Lifeng will hold talks with U.S. Treasury Secretary Scott Bessent during his visit to Switzerland from May 9 to 12.” (Will there be chocolate bunnies? Stay tuned.)

Just a whiff of macro-relief sent Bitcoin pirouetting from $74K to $96K. Even the stiff Bitcoin Macro Index coughed up a smile, showing positive expansion. Imagine what another wink from the global stage could do…

Of course, the Polymarket crowd remained as cheery as expired marmalade, pegging the chances of a real trade deal before June woefully below 30%.

Meanwhile, in the world of Options, traders started swarming around bullish bets, with the 25-Delta Risk Reversal (which basically measures how frightened they are) happily pointing upwards for May and June. On Deribit, a 16% shot at $110K this month—clearly, someone’s dreaming big!

And if traders squinted hard enough, the odds ticked up to 28% for a $110K touchdown in June. Time to cross fingers, toes, and possibly shoelaces.

But beware! A single sour note from these U.S.-China pow-wows, and Bitcoin could tumble like a wobbly jelly on a tea tray. Anyone fancy a wild ride?

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2025-05-08 07:21