FMP
Bitcoin Surges to Seven-Week High on Trump’s Fed and Trade Backtracks
Apr 24, 2025 6:52 AM - Parth Sanghvi
Image credit: Thought Catalog
Bitcoin leaped 2.8% on Wednesday to $93,662.90—its highest level since early March—as President Trump eased threats against Fed Chair Jerome Powell and hinted at tariff cuts on China, reviving risk appetite across markets.
Bitcoin Price Action
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High of Day: Topped $94,000 before settling near $93,662.90 (4:53 p.m. ET)
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Weekly Gain: Up more than 7%, reclaiming seven-week highs
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Trading Range: Now consolidating within $76,000-$95,000—a breakout above the upper bound could signal the next leg up
Key Catalysts
H3: Fed Independence Reprieve
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No Firing Powell: Trump walked back week-old threats to dismiss Fed Chair Jerome Powell, calming fears over central bank autonomy and U.S. dollar stability.
H3: Trade War De-escalation Hopes
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China Tariffs: The President said duties on Chinese goods would be “substantially” lower—sparking optimism for global growth and risk assets.
H3: Regulatory Tailwinds
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SEC Leadership: The appointment of crypto-friendly SEC Chair Paul Atkins has boosted confidence in regulatory clarity for digital assets.
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Liquidity Signals: Quantitative indicators, such as the liquidity lag metric, have aligned with traditional breakout patterns.
Market Implications
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Dollar Weakness: A softer greenback makes BTC more attractive to foreign investors.
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Correlation Dynamics: Bitcoin's renewed rally decouples from broader crypto sideways trading—highlighting its role as an alternative hedge in uncertain policy environments.
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Institutional Interest: Improved sentiment may draw fresh capital into BTC ETFs and derivatives.
What's Next for Traders
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Breakout Watch: A sustained close above $95,000 could confirm a new uptrend.
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Regulatory Updates: Monitor SEC guidance under Chair Atkins for clues on wider crypto policy.
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Macro Data: Upcoming PMI and Fed minutes will test the durability of risk-on flows.
Track Bitcoin Trends and News
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For historical price charts, volumes, and OHLC data, explore the
🔗 Cryptocurrency Historical Data API
from Financial Modeling Prep. -
To follow the latest headlines and developments in crypto markets, use the
🔗 Crypto News API.
These APIs provide the data and insights needed to navigate Bitcoin's next moves in a world of shifting policy winds.
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