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Bitcoin Surges 4% to $94,000 on Trump's Tariff Shift

Coin WorldThursday, Apr 24, 2025 4:08 pm ET

1min read

Bitcoin (BTC) has recently surged above the $90,000 mark, driven by a shift in political developments involving United States President Donald Trump. The market's optimism is fueled by Trump's recent change in stance on proposed tariff hikes on China, which has led analysts to speculate that a potential trade resolution between the two countries could propel Bitcoin's price to $100,000.

Bitcoin's rally, which saw it break past $94,000 in a single day, is not driven by traditional crypto catalysts such as ETF inflows but by whale accumulation spikes and sudden political changes in the US. After months of escalating rhetoric and tariff threats, Trump adopted a more conciliatory tone toward China, signaling a de-escalation in US-China trade tensions. This shift in policy has been met with a positive response from the market, reversing weeks of sluggish price action across crypto markets.

The rally was led by Bitcoin and quickly followed by lower-cap altcoins. The timing of Bitcoin’s price increase suggests that the shift in investor sentiment is tied to Trump’s twin policy pivots: easing tariffs on China and backing off from removing Federal Reserve Chair Jerome Powell. Trump has expressed confidence that China will eventually cut a trade deal with the US, despite earlier threats of steep tariffs as an intimidation tactic. He has since signaled a more conciliatory approach toward resolving the trade tensions with China.

Currently, Bitcoin has pulled back to $92,487 after its brief surge past $94,000. Market expert ‘Crypto VIP Signal’ notes that BTC is rapidly approaching a critical resistance level at $95,000 while maintaining strong support at $90,000. A decline below the support zone could lead to further price breakdowns toward $88,000 – $80,000. Alternatively, a decisive breakout above the resistance threshold is expected to trigger a strong rally for BTC.

Other analysts have shared similar bullish sentiments, suggesting that easing tariff tensions in the US and Trump’s optimistic remarks about being in talks with China could trigger a surge in BTC, possibly pushing it to $100,000. According to the analyst's forecast, Bitcoin will reclaim this level once the US secures a trade agreement with China.

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