The latest boost comes after Commerce Sec Howard Lutnick said that talks with China were going very well and would hopefully wrap up tonight (it's 8:30 pm in London).
That set off a round of bids in risk assets, particularly stocks and bitcoin. There may also be a tailwind for bitcoin on fresh EU sanctions on Russia and a proposal for lowering the oil price cap to $45 from $60, along with sanctions on those who sell refined Russian oil back into the EU.
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