| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107353.6300000000 |
| ETH | $2439.7380000000 |
| BNB | $649.9543600000 |
| XRP | $2.1859200000 |
| ADA | $0.5617692000 |
| SOL | $150.1501000000 |
| DOGE | $N/A |
| DOT | $3.4067100000 |
| LTC | $86.7900000000 |
| LINK | $13.4316600000 |
Category: CRYPTO NEWS
The post Bitcoin Hits $93K Briefly, Trump Talks Drive Bitcoin Up appeared on BitcoinEthereumNews.com. Price breaks $93K but retracts, facing $91-92K resistance. Trump softens China tariffs, boosting market sentiment. Bitcoin reached a six-week high of $92,984.58 on April 23, 2025, with a 6.83% increase during 24 hours. The cryptocurrency was only briefly able to overcome the $93,000 to $93,500 range before retreating to its current level. It is the latest in a run of market rattle following President Donald Trump’s comments on China’s trade policies. Trump also said that he will substantially reduce the tariffs on China. This could be a sign of de-escalating trade tensions, and he also said he would not play hardball. This has led investors to be optimistic and drive Bitcoin to new highs. Conversely, there exists a post on X that suggests an alternative implication. Onchain metrics show that even as Bitcoin pumped to $93,000, there was a drop of 146,000 BTC in demand over the past 30 days. Momentum indicators are also at October lows, which is a cautionary signal during the rally. The X post also notes that even as $381 million flowed into ETFs Monday, other measures, such as USDT market cap growth, are weak at $2.9 billion. In the past, sustained rallies required at least $5 billion USDT market cap growth to sustain, which does not look like it will happen. Resistance Levels and Market Dynamics Bitcoin is currently confronted with a significant resistance zone that lies between $91,000 and $92,000, as stated in the X post. This has been a stubborn hurdle with the smart money paying close attention to the price action. Recently, this resistance has been broken above $93,000, however, the retraction to $92,984.58 implies that the volatility is still possible. According to CNBC on April 7, 2025, his earlier tariff threats had created fears of a global recession that touched everything…
2025-04-23T03:44:08+00:00