Bitcoin Blasts Past $93K as Trump’s China Tariff Pivot Boosts Investor Confidence

Bitcoin price has climbed above $93,000, fueled by President Donald Trump’s announced substantial tariff reduction on China. This move signaled a de-escalation of trade tensions between the two nations. Donald Trump also emphasized that there won’t be tough tactics in future negotiations. This sparked optimism among investors and became a headline in Bitcoin news. Further, this news has led to a boost in market sentiment, driving Bitcoin to a new high. As trade concerns ease, Bitcoin investment is gaining renewed confidence, reflecting a shift in market dynamics. Let’s analyze the last 24 hours’ price action of Bitcoin to gauge current market sentiment.

Bitcoin Dynamic Price Fluctuations – April 22, 2025

On April 22, 2025, the trading day commenced with Bitcoin having established an upward trajectory, demonstrating a robust bullish momentum. During the initial trading day, Bitcoin began with a short-term rise. At 01:15 UTC, Bitcoin encountered an RSI overbought situation, indicating a potential trend reversal. As expected, at 01:20 UTC, a pin bar, followed by a full-body red candle, signaled a potential downtrend. Likely, Bitcoin price resisted at $88,846 and experienced a short-term fall. A death cross on MACD at 02:10 UTC affirmed this uptrend. However, at 03:10 UTC, Bitcoin found support at $87,854 and began to move in an upward channel. 

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 23, 2025

At 11:45 UTC, a golden cross on MACD signaled a further rise in price. Likely, at 12:55 UTC, the Bitcoin 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. Further, at 15:15 UTC, a pin bar, followed by a full-body red candle, signaled a downtrend. As expected, 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.

Bitcoin Fluctuation within the Key Levels – April 23, 2025

As illustrated in Chart 1, on April 23, 2025, Bitcoin’s trading day kicked off with a short rise. However, at 00:05 UTC, a death cross on MACD signaled a possible downtrend. As expected, at 00:20, a pin bar, followed by a full-body red candle, signaled a downtrend. Likely, 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. Likely 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.

Bitcoin’s Next Move – Buy or Sell Momentum?

Based on today’s 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 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. 

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