News 
April 28, 2025 
4 min. 
Worrying macroeconomic data triggered a sharp $2,000 drop in Bitcoin (BTC) to $93,500 on April 28, highlighting how closely the cryptocurrency is tracking broader market trends. The sudden correction paralleled a decline in US Treasury yields, indicating that traders may be shifting toward safer assets amid growing uncertainty.
Despite posting a 6% gain over the past week, Bitcoin traders remain cautious as BTC struggles to sustain prices above the crucial $95,000 mark. The pullback from $95,500 directly reflected intraday movements in Treasury yields, with the falling yields signaling stronger demand for low-risk investments. Overall, the trend points to a notable dip in risk appetite across major financial markets.
China’s Tariff Cuts Spark Brief Optimism, But US Trade Tensions Shift Market Mood
Investor sentiment turned upbeat over the weekend after Newsweek reported on April 25 that China had quietly reduced tariffs to zero for specific US semiconductor and circuit board imports. This positive development helped the US Russell 2000 small-cap index maintain its rally, with the index hovering near a three-week high on April 28.
However, this wave of optimism quickly faded after US Treasury Secretary Scott Bessent, in an interview with CNBC, placed the burden of reaching a trade deal squarely on China. As trade tensions reignited, fears of a looming recession grew, even though many American companies are delivering strong first-quarter earnings. According to FactSet, 73% of reporting companies have exceeded analysts’ earnings expectations so far.
Meanwhile, Bitcoin continues to struggle with broader macroeconomic challenges. Despite repeated attempts, BTC has failed to firmly establish itself above the $95,000 mark. The cryptocurrency’s ongoing correlation with traditional stock markets highlights investors’ lingering doubts about Bitcoin’s reliability as a safe-haven asset during economic instability.
Adding to concerns, much of Bitcoin’s recent strength, keeping its price above $90,000, appears to be fueled by $4.28 billion in BTC purchases made by Strategy since mid-March. With 97% of their authorized common share issuance already utilized, questions are mounting over the sustainability of Michael Saylor’s aggressive accumulation strategy.
Bitcoin Faces Pressure as Strong Stock Earnings Clash with Global Economic Worries
Despite a strong corporate earnings season boosting stock markets, Bitcoin continues to struggle under the weight of mounting macroeconomic concerns.
In March, US existing home sales posted their sharpest monthly decline in more than two years, dropping 5.9% from February’s figures. At the same time, China announced new initiatives to support employment and aid exporters, following a slowdown in factory production caused by sluggish consumer demand, according to CNBC.
Amid this backdrop of global uncertainty, Bitcoin’s path to a sustainable rally above $100,000 will require more than just a few strong weeks of spot Bitcoin ETF inflows, especially considering that much of the recent buying momentum is also being driven by Strategy’s significant acquisitions.
Looking ahead, investors seeking confirmation of a new Bitcoin all-time high in 2025 will need to see the cryptocurrency break away from its tight correlation with US stock markets. In addition, clearer signs of central bank intervention to boost liquidity would be necessary to reinforce bullish confidence.
Currently, traders remain sharply focused on US interest rate trends and whether the Federal Reserve might soon reverse its balance sheet tightening, a policy stance that has been in place for over two years.
