Bitcoin Surges 10% to $93,857 as Trump Cuts China Tariffs

Bitcoin's price surged past $93,000, driven by President Donald Trump's announcement of a significant reduction in tariffs on China. This move indicated a de-escalation of trade tensions between the two nations, with Trump emphasizing that future negotiations would avoid tough tactics. This news sparked optimism among investors, boosting market sentiment and driving Bitcoin to a new high. As trade concerns eased, Bitcoin investment gained renewed confidence, reflecting a shift in market dynamics.

On April 22, 2025, Bitcoin began the trading day with a strong upward trajectory, demonstrating robust bullish momentum. Initially, Bitcoin experienced a short-term rise, but at 01:15 UTC, it encountered an RSI overbought situation, signaling a potential trend reversal. At 01:20 UTC, a pin bar followed by a full-body red candle indicated a potential downtrend. Bitcoin's price resisted at $88,846 and experienced a short-term fall. A death cross on MACD at 02:10 UTC confirmed this uptrend. However, at 03:10 UTC, Bitcoin found support at $87,854 and began moving in an upward channel.

At 11:45 UTC, a golden cross on MACD signaled a further rise in price. At 12:55 UTC, Bitcoin's price movement broke the resistance at $88,846, breached a breakout, and experienced a further price rise. At 14:55 UTC, a death cross on MACD signaled a possible downtrend. At 15:15 UTC, a pin bar followed by a full-body red candle indicated a downtrend. Bitcoin resisted at $91,398 and experienced a short-term fall. Subsequently, at 15:40 UTC, Bitcoin found support at $90,396, moved up, and reached $91,617.

At 19:00 UTC, Bitcoin resisted at $91,617 and experienced a short-term fall. Conversely, at $90,917, Bitcoin found support and began to move up. At 21:40 UTC, a golden cross on MACD signaled a further rise in price. As expected, at 21:45 UTC, Bitcoin broke the resistance at $91,617, spiked, and reached the top price of the day at $93,857. At this point, Bitcoin resisted, experienced a brief fall, and closed at $93,517.

On April 23, 2025, Bitcoin's trading day started with a short rise. However, at 00:05 UTC, a death cross on MACD signaled a possible downtrend. As expected, at 00:20 UTC, a pin bar followed by a full-body red candle indicated a downtrend. Bitcoin resisted at $93,857, exhibited descending channels, and demonstrated a bearish trend. But at 01:55 UTC, Bitcoin found support at $92,580 and began to move up, experiencing an upward trajectory. At 03:25 UTC, Bitcoin breached a breakout, continuing to move up and eyeing to break the key resistance. A golden cross on MACD at 03:20 UTC affirmed this uptrend.

Based on the price analysis, Bitcoin is establishing an upward momentum, demonstrating a strong bullish sentiment. Currently, Bitcoin is trading at $93,370 and looking to break the key resistance at $93,857. In a possible scenario, if Bitcoin's price movement breaks the key resistance level at $93,857, it could hit a new high. In case Bitcoin fails in its attempt, it could fall back and break the support at $90,396, suggesting a strong bearish sentiment.

As Donald Trump decides to reduce tariffs on China, Bitcoin investment is gaining investors’ confidence. This development has become a headline in Bitcoin news. Hence, analysts predict that Bitcoin could reach a new high. So, closely monitor the key levels and find the right time to buy.