Bitcoin prices climbed closer to the $100,000 mark on Friday, driven by improving global sentiment after China expressed willingness to re-engage in trade talks with the United States. The cryptocurrency rose 1.7% to $96,806, briefly touching $97,226 earlier in the session.
The rally was further supported by corporate giant MicroStrategy (NASDAQ:MSTR), which announced a $21 billion equity offering aimed at buying more Bitcoin—despite reporting its fifth consecutive quarterly loss due to a $5.91 billion unrealized loss on its Bitcoin holdings.
Optimism over US-China trade negotiations helped lift risk sentiment across global markets, including equities and digital assets. While cryptocurrencies are not directly tied to supply chains, their speculative nature makes them sensitive to shifts in investor mood.
Broader crypto markets followed Bitcoin’s lead. Ethereum rose 1.4% to $1,838, XRP gained 0.5% to $2.22, and Solana and Cardano rose 0.6% and 2.7% respectively. Dogecoin led major gains with a 3.3% surge.
However, the memecoin $TRUMP slid nearly 5%, retreating from recent highs after rallying over 50% in late April.