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Bitcoin Reaches 7-Week High Thanks to Trump’s Trade War Easing
April 23, 2025 – The Bitcoin market is experiencing a remarkable recovery, as the cryptocurrency has surpassed the $93,000 mark for the first time in seven weeks. This development follows a series of macroeconomic events that have led analysts to forecast further upside potential.
Bitcoin has surpassed the $93,000 mark for the first time in seven weeks, continuing its post-Easter rally. Analysts view this price movement as a sign of further upside potential. In the past 24 hours, the Bitcoin price rose by 5.62%, reaching the $93,000 mark on April 22, according to CoinMarketCap. This marks a 12% increase over the past seven days.
The sudden price surge of Bitcoin, which jumped from just under $91,500 to $93,000 within minutes, surprised traders and led to speculation about what might happen next. Bitcoin commentator Michael Sullivan described it in an X-post as the “craziest one-minute candle” he has ever seen on the Bitcoin chart.
Pseudonymous crypto trader Crypto General stated that Bitcoin is progressing “as planned” and that the recent breakout was expected. Shortly before the price surge, crypto commentator “Ted” told his 158,200 followers that Bitcoin would “catch up” and that the $100,000 mark, which hadn’t been reached since February 3, was “charged.”
These developments come amid improved sentiment in the crypto market, increased capital inflows into spot Bitcoin ETFs, and a more dovish stance from US President Donald Trump in the trade war. On the same day, Trump stated that he “has no intention” of firing Federal Reserve Chairman Jerome Powell, after previously criticizing him for failing to lower interest rates.
Additionally, Trump announced that tariffs on Chinese goods would be “significantly reduced,” which led to positive sentiment among crypto analysts. Economist and crypto trader Alex Kruger stated in an X-post that Trump checked most of the “de-escalation/bullish boxes.” Investing with Brandon also described the news as “bullish.”
The day before, the 11 US spot Bitcoin ETFs recorded a combined net inflow of $381.3 million. Traditional financial markets also closed the trading day on April 22 higher, with the S&P 500 up 2.51%, the Nasdaq up 2.87%, and the Dow Jones up 2.66%, according to Google Finance data.
This article does not contain investment advice or recommendations. Every investment and trading decision carries risk, and readers should conduct their own research before making any decision.
Source: https://thebitcoinnews.com/bitcoin-reaches-7-week-high-thanks-to-trumps-trade-war-easing/
