Easing U.S.-China tensions contribute to cryptocurrency uptrend, benefiting Bitcoin and other altcoins.
"Crypto Market Surges as BTC Hits $94K in April 2025!"
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Bitcoin [BTC] soared past the $94K mark on the 23rd of April, sending shockwaves throughout the crypto market. Ethereum [ETH] followed suit, gaining a whopping 10%, nearly touching $1800.
The rally didn't stop there, Solana and XRP also climbed 8%, surpassing $150 and $2.2 respectively. Meanwhile, mid-cap altcoins like Sui [SUI] and Avalanche [AVAX] captured the spotlight, with SUI blasting 25% and AVAX surging 12%.
What's the deal behind this cryptocurrency surge?
Market analysts attribute the extended recovery to a potential U.S.-China de-escalation on the tariff front and President Donald Trump's U-turn on firing Fed chair Jerome Powell.
According to a Bloomberg report, the US Treasury Secretary Scott Bessent expressed the China standoff as 'unsustainable' and expected the situation to 'de-escalate.' In another media interview, Trump backtracked on his threats to Fed chair Powell, stating he had no intention of firing him. Trump expressed his desire for Powell to be a bit more active in lowering interest rates.
These two macro factors have been key drivers behind recent US dollar-based assets sell-offs and the decoupling of BTC from US stocks. However, the perceived positive macro-shift led to a rally in BTC and other risk-on assets.
Institutional bids also increased to levels last seen in January, with an astounding $936 million in daily inflows to U.S. spot BTC ETFs on the 23rd. Arthur Hayes, BitMEX founder, projected the BTC rally could potentially extend to $110K and $200K, citing a potential increase in dollar liquidity.
Tracy Jin, COO of MEXC crypto exchange, shared a similar outlook, expressing that BTC was still open for bids at current levels. Jin told our website that this scenario (portfolio diversification) could push Bitcoin to all-time highs in the $150,000-$200,000 range, followed by a gradual decline in volatility. Until those levels are reached, the market remains open for entry.
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[1] - Bloomberg (report on US de-escalation)[2] - CoinMarketCap ( Bitcoin price data )[3] – Reuters (quote from Trump regarding Jerome Powell)[4] - Soso Value (article on potential BTC rally)[5] – CoinTelegraph (article on institutional inflows and market dynamics)
- "Crypto Market Extends Rally as Solana and XRP Mirror BTC's Growth"
- "The 23rd of April Sees Ethereum Top $1800, Altcoins Surge"
- "Sui and Avalanche Emerge as Mid-Cap Altcoins to Watch"
Analysts point to a potential U.S.-China de-escalation and President Trump's U-turn on firing Fed chair Jerome Powell as key factors contributing to the recent surge in cryptocurrencies. The US Treasury Secretary Scott Bessent expressed the China standoff as 'unsustainable' and expected the situation to 'de-escalate.' In another media interview, Trump backtracked on his threats to Fed chair Powell, stating he had no intention of firing him.
The rally in Bitcoin [BTC] to an all-time high of $94K on the 23rd of April has been accompanied by a surge in Ethereum [ETH], Solana, and XRP, with mid-cap altcoins like Sui [SUI] and Avalanche [AVAX] also seeing substantial gains. This shift in the crypto market could be a result of the perceived positive macro-shift and increased institutional bids, with many analysts projecting further growth for Bitcoin [BTC], potentially extending to $110K and $200K.
- "Market Analysts Predict Further Gains for Bitcoin [BTC]"
- "Institutional Bids Drive Crypto Market Growth"
- "Positive Macro Shifts Fuel Crypto Market Recovery"
Tracy Jin, COO of MEXC crypto exchange, shares a similar outlook, expressing that Bitcoin [BTC] is still open for bids at current levels. Jin told our website that this scenario (portfolio diversification) could push Bitcoin to all-time highs in the $150,000-$200,000 range, followed by a gradual decline in volatility. The rally amongst cryptocurrencies is a reminder of the growing importance of technology in the finance and investing sector.
- "MEXC COO Predicts Further Growth for Bitcoin [BTC]"
- "Portfolio Diversification Could Push Bitcoin [BTC] to New Highs"
- "Crypto Market Gains Reinforce Tech's Role in Finance and Investing"
