Bitcoin price rises as Trump hints at China tariffs cut
April 24, 2025
Bitcoin (BTC-USD) has powered through resistance to trade above $92,000 (£69,172), as the digital asset’s bullish momentum continues to be bolstered by institutional inflows into US-listed spot bitcoin exchange-traded funds (ETFs).
Read more: Crypto live prices
The rally, now in its fourth day of strong ETF inflows, reflects rising confidence among investors amid macroeconomic shifts and growing appetite for regulated bitcoin exposure.
The surge in bitcoin’s price aligns with broader equity market optimism, fuelled by potential progress in US-China trade negotiations and US president Donald Trump’s recent assurance that he has “no intention” of removing Federal Reserve chair Jerome Powell.
Nansen’s principal research analyst Aurelie Barthere highlighted a notable shift in US trade policy rhetoric as a key driver of the renewed risk-on environment that is driving bitcoin price appreciation. Trump and secretary of the Treasury Scott Bessent have both signalled openness to reducing tariffs on Chinese imports and have taken a more conciliatory stance toward Powell.
“The current bitcoin rally could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar, and US Treasuries,” Barthere told Yahoo Finance UK. “That said, we could still see a volatile regime as negotiations with China continue and it feels like we’ve maxed out on tariff-related fear.”
Barthere added that while many remain uncertain about where things are headed over the next month, “it also seems like markets were just waiting for the slightest signal that we’re back in the game.”
According to TradingView data, bitcoin is currently consolidating gains in the $92,000–$94,000 range — its highest levels in weeks — fuelling renewed optimism that the psychologically critical $100,000 milestone could soon be in reach.
Read more: FTSE 100 LIVE: Stocks slump as BoE warns trade war will hit UK growth
Some crypto analysts have described this as a “strong breakout” following a period of technical rejections and choppy consolidation below the $90,000 mark.
On Wednesday, US-based spot bitcoin ETFs drew $916.91m (£689.40m) in net inflows, marking the fourth consecutive day of positive flows.
This streak underscores growing institutional conviction, especially as bitcoin’s price stabilises above the $90,000 threshold.
BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) led the charge, recording $643.16m in daily inflows on Wednesday — its highest since 21 January.
The haul brought IBIT’s cumulative net inflows to $40.63bn, making it the dominant player among the eleven spot bitcoin ETFs launched in January 2024. The fund now manages approximately $53.77bn in net assets.
IBIT was recently named Best New ETFby etf.com. Bloomberg ETF analyst Eric Balchunas backed the recognition, stating on X.com that the award “feels right to me, I’m pretty sure this is how I voted.”
Bitfinex told Yahoo Finance UK that cooling inflation indicators, expectations of a dovish Federal Reserve, and growing institutional bid have all supported the uptrend. “On-chain flows suggest accumulation rather than distribution,” the analysts said, adding that strong spot volume and stable funding rates have helped prevent the market from overheating.
“If bitcoin can hold above $89,000–$90,000 on strong spot volume, the rally likely has legs — especially if equities continue higher during earnings week.”
However, they cautioned that altcoin underperformance and lingering macro uncertainty could cap broader upside in the short term.
The weakening US dollar has added further fuel to bitcoin’s momentum, reinforcing its appeal as both a hedge and a long-term store of value.
Despite the bullish tone, some warning signs remain. Derivatives indicators such as negative funding rates and a bearish put-to-call ratio suggest some traders are hedging against further upside, implying caution among sophisticated market participants.
However, if ETF inflows continue and macro conditions remain supportive, some analysts believe bitcoin could soon make a legitimate run at the $100,000 level.
Investors are closely watching upcoming US CPI data and altcoin market breadth as key indicators of whether this breakout has staying power.
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