"Jensen Huang and Elon Musk also head to China with Trump"...Bitcoin Jumps to $81,000

▲ Bitcoin (BTC)/ChatGPT generated image

Bitcoin (BTC) surpassed the $81,000 mark as Nvidia CEO Jensen Huang joined U.S. President Donald Trump's state visit to China at the last minute. This comes ahead of a high-level U.S.-China meeting, where major U.S. corporate leaders such as Elon Musk, Tim Cook, and Larry Fink are accompanying the President, leading to an analysis that risk asset preference in the cryptocurrency market has revived.

CoinGape reported on the 13th that President Trump will make a state visit to China this week, marking the first visit by a U.S. president in nearly a decade. More than 12 U.S. business executives, including Musk, Cook, and Fink, are accompanying the visit, with Huang joining at the last minute. The meeting agenda is reportedly focused on trade, investment, rare earth elements, aviation deals, and de-escalation of tensions.

President Trump confirmed that Huang boarded Air Force One for China. CoinGape reported that Nvidia's stock price rose by more than 1.45% in after-hours trading to $238.98, and Nvidia's market capitalization expanded to $5.4 trillion. The visit also included Musk of Tesla, Cook of Apple, Fink of BlackRock, Kelly Ortberg of Boeing, Stephen Schwarzman of Blackstone, Jane Fraser of Citigroup, David Solomon of Goldman Sachs, Michael Miebach of Mastercard, Cristiano Amon of Qualcomm, and Ryan McInerney of Visa.

Global stock markets and cryptocurrency markets are closely watching the meeting between President Trump and Chinese President Xi Jinping. President Trump expressed optimism that the visit could open up many opportunities in China. U.S. Treasury Secretary Scott Bessent announced that he had begun preliminary discussions with the Chinese side in South Korea and would also discuss with Japanese Prime Minister Sanae Takaichi and Chinese Vice Premier He Lifeng.

The cryptocurrency market reacted positively to the news of Huang joining the China visit. Bitcoin rose by more than 1.50%, reaching a 24-hour high of $81,248. Earlier, Bitcoin had fallen to a 24-hour low of $79,832 after the U.S. Consumer Price Index (CPI) came in high at 3.8%, but expectations of U.S.-China tension de-escalation and the news of major corporate executives accompanying the President revived investor sentiment.

Market participants are also awaiting the release of the U.S. Producer Price Index (PPI). Economists expect the core Producer Price Index to rise from 3.8% to 4.3%, and the Producer Price Index's rise to increase from the previous 4% to 4.9%. Kevin Warsh's confirmation as Federal Reserve Chairman and the review of the U.S. cryptocurrency market structure bill scheduled for Thursday were also cited as variables that could affect the market. Bitcoin futures rose by approximately 1% in the last four hours, reaching $60.48 billion, indicating buying sentiment.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*