Bitcoin Surges 2.3% to $96,800 as Trump-Xi Summit Eases Miner Supply Fears

Bitcoin rallied 2.3% to $96,800 during the May 14-15 Trump-Xi Beijing summit, rebounding from sub-$80,000 levels hit amid hot U.S. inflation data. The advance followed initial optimism on May 11 that nearly 40% of the 17-CEO U.S. delegation had crypto ties, raising hopes for eased semiconductor and ASIC export rules. Despite macro headwinds including +3.8% CPI, +6.0% PPI and 10-year yields near 4.4%, positive summit signals on trade and critical minerals lifted sentiment and refocused attention on U.S. miners' 38% global hashrate versus China's 97% hardware dominance.