News 
April 24, 2025 
5 min. 
Trump’s latest comments on China tariffs sent a wave through the markets on April 23, propelling Bitcoin beyond the $94,000 mark and boosting investor confidence across the board
Why Is Bitcoin (BTC) Climbing Today After Trump’s Latest Comments on China Tariffs?
Trump’s latest comments regarding U.S.-China trade relations appear to have injected fresh energy into global markets, sending Bitcoin (BTC) surging past $94,000 on April 23. The cryptocurrency extended its recent upward momentum in parallel with a strong rally across major U.S. equity indices.
Reports suggest that President Trump is considering a substantial reduction in tariffs on Chinese imports, possibly cutting them by as much as 50%. The prospect of easing trade tensions lifted overall investor sentiment and triggered a shift toward risk-on assets.
The S&P 500 rallied 93 points, closing 1.77% higher at 5,375.86. Leading the charge were tech giants, with Nvidia soaring 3.21%, Microsoft up 2.78%, and Alphabet advancing 1.94%. Meta and Apple also posted notable gains of 1.77% and 1.05%, respectively. Amazon climbed 2.39%, bouncing back after a previous $5.5 billion charge linked to tariff-related headwinds.
Analysts view the rally as a direct response to Trump’s softened trade rhetoric, which signals a possible resolution to long-standing economic frictions and boosts optimism for global growth.
Still, despite the bullish backdrop, Bitcoin was unable to overcome the psychological barrier at $95,000, as some traders opted to lock in profits early. This resistance level remains a key hurdle, and although the broader trend remains positive, caution lingers among short-term participants.
What Lies Ahead?
As Bitcoin edges closer to the critical $95,000 mark, market participants are anticipating a potential breakout. If momentum carries the price above this level, it could pave the way for a rally toward $98,000 or beyond. On the flip side, heightened economic uncertainty or an unexpected spike in inflation may prompt traders to secure gains, with notable support levels hovering around $91,000 and $88,500.
Meanwhile, investors remain tuned into upcoming policy signals from former President Trump, seeking insight into the future of U.S.-China trade relations and their impact on market sentiment.
Bitcoin Price Outlook: Bulls Target $96,800 as Uptrend Builds Above Key Support Levels
Bitcoin is showing signs of continued strength, with traders now setting their sights on the $96,800 mark as bullish momentum holds firm above major moving averages.
Following a recent high of $93,787, BTC/USD experienced a modest pullback. However, the broader trend remains intact, supported by the cryptocurrency’s position above the 50-day ($84,398), 100-day ($90,852), and 200-day ($88,699) simple moving averages. This technical structure suggests underlying resilience.
Notably, the Bull and Bear Power (BBP) indicator has surged to +9,939, its most bullish reading since mid-January, signaling increased confidence among buyers. Despite the short-term dip, Bitcoin continues to trade comfortably above its former resistance zone around $90,000, which has now flipped into solid support.
A breakout beyond $94,000 would likely pave the way toward the next major target at $96,800. This aligns with a key Fibonacci extension and an important psychological level. On the downside, a drop below the 100-day moving average could trigger a wave of selling, potentially sending BTC back toward $88,500.
For now, momentum clearly favors the bulls, with price action reflecting continued accumulation and a positive bias.
