The leading cryptocurrency, Bitcoin, surged 4%, surpassing $110,000 for the first time in two weeks. Ripple is also continuing its upward trend.
As of 8 a.m. on the 10th, according to CoinMarketCap, a global coin market tracker, Bitcoin is trading at $110,000, up 4.18% from the previous day. This is the first time Bitcoin has surpassed $110,000 since the 28th of last month. Bitcoin's all-time high was recorded at $111,970 on the 23rd of last month.
Ripple, which surged 5% the previous day, is showing a price of $2.32, up 2.55%. Ethereum, the second-largest cryptocurrency by market cap, is also trading at $2,655, up 5.75%.
The rise in cryptocurrency prices is attributed to expectations of easing U.S.-China trade tensions. Kevin Hassett, Chairperson of the White House Council of Economic Advisers (NEC), who is currently engaged in trade negotiations with China in London, noted, "China is discussing resuming rare earth exports to the U.S. and expanding access to American-made semiconductors."