Bitcoin surged to $113,996.35 following the announcement of an $8.5 billion rare earths agreement between the U.S. and Australia. The deal, signed by President Donald Trump and Prime Minister Anthony Albanese, aims to counter China's dominance in the rare earths market, which accounts for 90% of global production. This strategic move is intended to reduce U.S. dependency on Chinese exports. The cryptocurrency had dipped to $107,534.75 overnight but rebounded by Tuesday afternoon, reflecting market optimism about the geopolitical implications of the agreement. The rare earths deal is seen as a significant step in diversifying supply chains and securing critical minerals for the U.S. economy.