The US and China have entered into a temporary trade agreement for 90 days, which has come as green fodder for Bitcoin bulls. This news reflects the deep relationship between global trade, geopolitics and the crypto market.

Under the deal, both countries have reduced the tariff rate on goods imported from each other. The reason for this is that companies of both countries get the necessary resources from each other for their products, and they also need better access to each other's market.

It is possible that in future companies of both countries may resort to Bitcoin. The US has its own Bitcoin reserve, and most of the world's Bitcoin-based companies are owned by the Chinese. Therefore, this deal is feeding Bitcoin laddus from both sides.

Published at Wubits