President Donald Trump flew to China on Saturday with a delegation of over a dozen U.S. executives, including Elon Musk, Tim Cook, Larry Fink, and Nvidia's Jensen Huang — a last-minute addition confirmed May 13. The state visit is the first U.S. presidential trip to China in nearly a decade, and markets are already pricing in a framework agreement that would ease tariffs on semiconductors and electronics, which peaked at 60% on Chinese goods in late 2025.
$1 trillion sidelined capital
Bitwise strategist Juan Leon said that 'reduced tariff risks could unlock $1 trillion in sidelined capital for crypto.' Treasury Secretary Scott Bessent began preparatory talks with Chinese officials in South Korea ahead of the summit, with meetings scheduled with Chinese Vice Premier He Lifeng on Wednesday. The bet is that Trump and Xi Jinping can deliver at least a preliminary trade framework by May 15 — and if they do, Bitcoin could quickly move to $88,000–$90,000, according to the strategist.
Bitcoin bounces off CPI data
The price action this week tells a story of its own. Bitcoin climbed to a 24-hour high of $81,000 after recovering from a low of $79,832 — a dip that followed a U.S. CPI print of 3.8%. Key resistance sits at $82,500–$83,500 as the first cluster, with a decisive range at $88,000–$90,000 near the 200-day SMA. The timing isn't an accident: every leg higher has tracked tariff headlines.
The week ahead is also heavy with Washington events. Kevin Warsh's expected confirmation as Fed Chair is set for Thursday, and the CLARITY Act markup is on the same calendar. Both are seen by traders as potentially net positive for Bitcoin — Warsh is viewed as more crypto-friendly than the current Fed leadership, and the CLARITY Act would provide regulatory clarity for digital assets. That's a lot of catalysts packed into a few days. Whether the summit delivers a concrete deal or just a handshake photo will determine if the rally has legs.
