Bitcoin once approached $105,000, with geopolitical benefits driving the rise of the cryptocurrency market

ChainCatcher news, according to CoinDesk, influenced by multiple macro positive factors, the price of Bitcoin (BTC) once approached $105,000, reaching a new high since late January. As of the time of writing, the price of Bitcoin has slightly retreated to $104,500, with a 24-hour increase of 1.5%. Ethereum performed even stronger, with a rise of 7.7% during the same period.

U.S. President Trump stated on social media that significant progress has been made in the trade negotiations between the U.S. and China held in Switzerland, and both sides have reached a consensus on a "comprehensive reset" of economic and trade relations. On the same day, Trump also announced a "comprehensive immediate" ceasefire agreement between India and Pakistan. Additionally, Russian President Putin expressed his willingness to hold talks with Ukraine in Turkey "unconditionally."

Analysts pointed out that the easing of geopolitical tensions and the closure of traditional financial markets have driven funds into the cryptocurrency market.