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Trump will visit China for a state visit from May 13 to 15, marking the U.S. president's return to China after 9 years.
In the current tense global geopolitical situation and the crypto market's sideways fluctuations, this summit is bringing new variables to the cryptocurrency market.
The landing of Trump's visit to China means that the window for easing China-U.S. relations has officially opened.
The meeting between the two heads of state is likely to "cool down" the tense bilateral relationship and ease global geopolitical uncertainties.
This will directly boost investors' risk appetite: funds that previously fled due to geopolitical risks will flow back into high-yield risk assets like cryptocurrencies, injecting new buying momentum into the currently volatile market.
Returning to the current market, BTC has been fluctuating within the range of 80,600 to 82,400 for nearly a week, with options hedging suppression preventing the price from breaking out.
The event of Trump's visit to China just happens to be the catalyst to break this deadlock.
If the meeting can send positive signals of easing China-U.S. relations and regulatory cooperation, BTC is likely to break through the upper boundary of 82,400, opening up upward space:
On one hand, increased risk appetite will drive funds to chase higher prices; on the other hand, the potential for regulatory developments will bring new bullish narratives to the market, breaking the current stalemate.