Bitcoin soared past $104,900 on Saturday evening, gaining 2% in the wake of President Donald Trump’s announcement on Truth Social about a breakthrough in trade talks with China.

Trump’s Truth Social Post Triggers Bitcoin Rally, Altcoin Boom

The bitcoin (BTC) rally extended to major altcoins, with ethereum and dogecoin both posting double-digit percentage gains. Trump posted: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner.”

Trump added:

We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!

The statement followed a high-level diplomatic engagement on Saturday in Geneva, where U.S. and Chinese officials met to de-escalate tensions stemming from recent tariff escalations.

The market response was swift, with traders interpreting the remarks as a signal of easing geopolitical pressure—an environment that often benefits risk assets like bitcoin.

Ethereum’s price jumped over 10% in the last 24 hours rising to $2,600, while dogecoin climbed roughly 21% to nearly $0.25, leading the altcoin rebound. The swift market response reflects just how tightly digital asset valuations are now tethered to geopolitical signals. At press time at 8:45 p.m. Eastern time, BTC is exchanging hands for $104,457 per unit.