Bitcoin price has recovered after statements by U.S. President Donald Trump regarding trade tariffs with China. The digital asset has climbed over 12% this week and is currently trading above $94,000, raising the question of whether it could soon reclaim the $100,000 mark.
Donald Trump’s comments on the lowering of tariffs influenced the market sentiment on several risk assets, including Bitcoin, XRP, DOGE, Ethereum, and other cryptocurrencies. In a White House event, the president implied that Chinese tariffs would be reduced by a “big, substantial percentage” in the future.
However, he stated that they will not go to zero, but his change of tone seems to be pulling back on the global trade concerns.
Bitcoin Price Rises Amid Eased Trade War Tensions
Risk-on sentiment emerged back in markets after U.S. President Donald Trump floated the possibility of cutting tariffs on Chinese imports. He said that 145% is very high and it will not be that high. It’ll come down substantially.”
These statements were made after weeks of threatening words and gestures, and it was met with market appreciation.The move supported a rally in major indices and increased demand for risk assets like Bitcoin. Bitcoin, for instance, rocketed by 6.77% on Tuesday to close the day trading above $93,400. Subsequently, by Wednesday, the Bitcoin price was again on the rise and trading above $94000.
Investors saw the statement as a possible sign of easing tensions in U.S.–China trade relations. The Wall Street Journal reported that Treasury Secretary Scott Bessent also supported a more relaxed stance, stating that he believed a deal with China could be reached.
On-Chain and Derivatives Data Show Increased Market Confidence
According to K33 Research, investor activity in the futures market has grown. CME futures exposure increased to 140,000 BTC, with premiums rising above 9% for the first time since January. This suggests that traders expect further price appreciation.
During the Easter week, Open Interest (OI) also increased by about 5,000 BTC according to the K33 Research report. This sent OI to a fresh high of 140,000 BTC in the three-week range. However, it is still below the figures recorded between the period of late Q4 and early Q1, where it crossed the 200,000 BTC mark.
An increase in futures premiums and OI is generally linked to the increased activity from institutional players. This trend points to a belief in higher prices, though overall leverage is still not at peak levels.
Bitcoin Flips Google’s Parent Company and Silver
Bitcoin has now surpassed the total market value of Alphabet, Silver, and Amazon. Data from CompaniesMarketCap shows Bitcoin’s market capitalization at over $1.8 trillion, making it the fifth-largest global asset.
The BTC value is now ahead of Google’s parent company Alphabet by $12 billion. Silver, long considered a store of value, currently holds a valuation of $1.856 trillion. Amazon follows with a market cap of $1.837 trillion.
This new ranking places Bitcoin among the top-tier global assets. The rally in price and market value came after investor concerns eased regarding the trade war and monetary policy uncertainty.
Analysts Debate BTC Cycle and Possible Trend Reversal
Ki Young Ju, CEO of CryptoQuant, commented on the current market situation. He stated that despite BTC price recent gains, he sees the market moving within a wide range. He said,
“If it breaks above $100K, I’ll gladly admit I was wrong.”
Ju focuses on long-term supply and demand using on-chain data. He noted that event-driven reactions make short-term price moves harder to predict. According to him, “even among on-chain analysts, interpretations of the data can differ.”
He also mentioned that he may reconsider the cycle theory if Bitcoin hits a new all-time high before Q4. That would suggest the market might be entering a different phase than previous bull cycles.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
