Bitcoin surged past $105,000, nearing its all-time high following positive news on tariffs from China and the US, who have agreed to reduce tariffs on each other's imports. The S&P 500 and Nasdaq also saw a rebound from recent selloffs. This tariff easing is viewed as beneficial for cryptocurrencies, although analysts caution that without a long-term agreement, market volatility may persist. Experts emphasize the need for regulatory clarity in the US, citing recent setbacks such as the failure to advance the GENIUS Act, a bipartisan stablecoin bill. While the current market sentiment is optimistic, some warn it may be misleading and driven by political factors rather than solid fundamentals. The horizon for a stronger crypto rally hinges on definitive regulatory actions.

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