The United States and China have taken a major step toward easing trade tensions, agreeing to suspend several tariffs that have rattled global markets this year.
Yet, despite the diplomatic breakthrough, Bitcoin’s price has not mirrored the optimism expected from such a deal.
US-China Reach Historic Agreement
On November 1, the White House announced that President Donald Trump and Chinese President Xi Jinping had reached a trade and economic agreement. The deal was finalized during meetings held in the Republic of Korea.
Under the deal, China will suspend new export controls on rare earth elements and grant general licenses for their shipment. Beijing also pledged to curb fentanyl exports to the United States and pause all retaliatory tariffs imposed since March 4.
In return, Washington will reduce tariffs on Chinese goods by 10% and extend existing tariff exemptions through November 2026.
“[This is] a massive victory that safeguards US economic strength and national security while putting American workers, farmers, and families first,” The White House stated.
The Kobeissi Letter, a macroeconomic research firm, described the accord as the most substantial thaw in US–China trade relations in years, noting its potential to ease global supply-chain strain.
Bitcoin Shrugs Off Diplomatic Optimism
Yet financial markets are showing little enthusiasm to the news.
Bitcoin, which often reacts to geopolitical and macroeconomic signals, recorded a modest gain of less than 1% in the past 24 hours. It was trading at $110,785 at press time.
Indeed, the muted response contrasts sharply with the volatility recorded in October. At the time, Trump’s announcement of new retaliatory tariffs sparked a $20 billion liquidation wave across crypto markets.
Meanwhile, industry analysts say the muted price response this time reflects deeper structural shifts in Bitcoin ownership rather than a loss of macro sensitivity.
James Check, a Bitcoin on-chain analyst, observed that older holders are offloading coins at an accelerated rate in comparison to previous cycles.
He noted that Bitcoin’s sell-side pressure remains intense, with the average age of coins being sold now around 100 days. This represents a sharp rise from the 30-day average seen in the previous period.
This shift, he explained, signals a transition in which long-term holders are offloading their positions to patient, deep-pocketed newcomers entering the market.
“We are watching a changing of the guard, from the OGs who rode the early risky waves, into the new pool of TradFi buyers who like calmer waters,” Check explained.
Despite the short-term price weakness, experts maintain that Bitcoin’s long-term fundamentals remain intact. The current rotation, they argue, marks a natural evolution of the asset’s maturity — where seasoned traders exit and traditional finance begins to take hold.
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