Bitcoin surge as optimism in the market, which turned bullish following remarks from U.S. political leaders signaling a potential easing of trade tensions with China. | WartaBerita.Net -- Illustration (net)
Bitcoin surge as optimism in the market, which turned bullish following remarks from U.S. political leaders signaling a potential easing of trade tensions with China.
WartaBerita.Net | JAKARTA – Bitcoin experienced a notable surge, climbing above $93,000 on Tuesday afternoon as market sentiment The leading cryptocurrency rose nearly 7% on Wednesday (23/04/2025) morning, but analysts caution that weaknesses remain beneath the surface.
What Triggered the Bitcoin Surge?
The rally was sparked by comments made at a private JPMorgan event, where U.S. Treasury Secretary Scott Bessent told investors that the ongoing tariff standoff with China was “unsustainable.”
He suggested a de-escalation could happen soon, although a comprehensive trade agreement between the two countries might still be years away.
Later that day, President Donald Trump reinforced market optimism by stating that U.S. tariffs on Chinese goods would “significantly decrease” from the current 145% level. He also dismissed speculation about removing Federal Reserve Chairman Jerome Powell, signaling continuity in monetary leadership.
Following these developments, Bitcoin (BTC) jumped to a high of $93,400, marking its strongest performance since early March.
Altcoins and Stocks Join the Rally
The bullish momentum extended beyond Bitcoin:
Ethereum (ETH) rose over 8%, surpassing $1,700.
Dogecoin (DOGE) and Sui (SUI) posted gains of 8.6% and 11.7%, respectively.
The CoinDesk 20 Index, which tracks top digital assets, climbed by 5.2%.
Meanwhile, U.S. equities also rebounded from previous losses. The S&P 500 and Nasdaq Composite closed up 2.5% and 2.7%, respectively, fueled by renewed investor confidence.
Institutional Inflows and ETF Optimism
According to hedge fund QCP Capital, capital is flowing back into “safe-haven” and inflation-hedging assets like Bitcoin and gold. Their analysts also noted a rebound in spot BTC ETF inflows, which are often viewed as a proxy for institutional demand.
On Monday (21/04/2025) alone, U.S.-listed BTC ETFs saw net inflows of $381 million, following $107 million on Thursday, per Farside Investors. Additionally, the Coinbase premium—a sign of U.S. investor appetite—returned, signaling stronger domestic interest.
Warning Signs Beneath the Bitcoin Surge
Despite the Bitcoin surge, analysts at CryptoQuant warned of persistent structural weaknesses: Over the past 30 days, apparent BTC demand has dropped by 146,000 BTC.
Their demand momentum metric—which gauges new investor interest—remains in bearish territory, continuing a trend since October 2024.
Market liquidity also remains soft. Although USDT market cap has grown by $2.9 billion in the last two months, it still lags behind the historical $5 billion threshold typically associated with stronger BTC rallies.
Furthermore, Bitcoin surge now approaches a key resistance range between $91,000–$92,000, near the “on-chain trader realized price” metric—a level that has historically acted as a ceiling in bearish environments.
CryptoQuant’s on-chain indicators currently classify the market as bearish, hinting that a pause or potential pullback could follow if investor sentiment falters. [WB]
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