A thawing in trading position from both the US and China has sent risk assets higher in the hours since the US stock market closed on Wednesday.

“The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” said US Finance Minister Scott Bessent, who reveals plans to travel to Switzerland to meet with Chinese colleagues for trade negotiations this coming weekend.

“Senior US officials have made a number of comments that suggest adjustments to customs and have expressed through various channels a desire to engage in the Chinese side on customs related questions,” a China Ministry of Commerce spokesman said. “China has carefully evaluated these messages by the US, and after fully considered global expectations, China’s own interests and appeals from US industries and consumers have decided to agree to engage in the United States”

The news has quickly sent Bitcoin (BTC) higher with approx. 3% to $ 97,200. Nasdaq 100 and S&P 500 Futures have jumped approx. 1%.