Bitcoin is back at the $90,000 mark, so what are you missing out on in your sleep?

Author：Bright，Foresight News

 

At 9 a.m. on April 23, the crypto market picked up, and the secondary market moved sharply higher. BTC rose from $87,500 to $94,086, an increase of more than 7.5%, and stood at a new high since March 9. ETH rose from $1,564 to $1,787.73, a strong gain of more than 11%. SOL rose from $137 to $150, or 9.4%.

 

The total crypto market capitalization rose by more than 10%, rebounding to more than $3 trillion. Bitcoin's market share recovered to 63.54%, the Fear & Greed Index climbed to 72, which represents greed, and the altcoin quarterly index strengthened to 18. At the same time, U.S. cryptocurrency stocks climbed simultaneously, with Coinbase closing back at $190, up more than 8.57%; MicroStrategy closed at $343.03, up more than 7.95%. Both shares are currently up more than 3% after hours.

 

In terms of liquidation data, according to Coinglass, a total of more than 147,300 people have liquidated their positions in the last 24 hours, with a total liquidation of $582 million, of which $508 million was liquidated by short orders. The largest single stop out on the CEX was ETH-USDT, which occurred on Binance and was worth $4,328,700.

 

During the same period, U.S. equities posted their biggest rally since April 9. The Dow Jones rose more than 1,000 points, and the S&P 500 and Nasdaq Composite both hit their highest levels of the day, almost erasing all of the previous day's losses. As global tensions eased, the dollar rebounded to refresh daily highs, while the yen and euro both came under pressure; Gold plunged to a high of $3,400 after breaking a new $3,500 record.

 

What exactly catalyzed the rocketing rally in crypto and even the global risky asset market?

 

On April 23, Charles Gasparino, a senior correspondent for Fox Business Channel, said that the market ushered in a "day of compromise" today: Trump seemed to have relented on trade policy and Powell's stay, and stock index futures rose in response; Musk also announced that he would gradually fade out of the government's efficiency department and return to Tesla's main business.

 

The tariff stick fell and raised, raised and fell

 

On April 22, at a closed-door investor conference, U.S. Treasury Secretary Bason said that the tariff impasse was unsustainable and that the situation was expected to ease in the near future. Bessant believes that the prospect of a détente should come as a relief to the world and markets. As soon as the news came out, the Dow soared more than 1,000 points, extending its gains to more than 2.7%, the S&P 500 rose more than 2.7%, and the Nasdaq rose 2.9%.

 

Subsequently, the market saw news that the Trump administration was "close" to a trade deal with Japan and India, but it may still be months before a final trade deal is reached. "It's complicated," the people said. This news caused U.S. stocks to give up a considerable amount of gains during the day, and even fell to a lower position than after the initial news of Bessant's speech, which shows that the tariff news has a significant impact on the market of risk assets.

 

Drama was seen again, with Trump and Musk coming together to make favorable views. First of all, Musk said on Tesla's earnings call that he will continue to advocate for lower tariffs, and bluntly said that "I will provide my advice to the president, and the president will listen to me."

 

Immediately, US President Donald Trump said that tariffs on Chinese goods would not be as high as 145%, and tariffs would drop significantly, but not zero. And when Trump was asked if he would take a tough stance on China, he changed his usual attitude and said no.

 

The connection between the US president and the world's richest man gave an instant boost to market confidence, the crypto market continued its rally, and the US dollar US stocks also rose again.

 

TRUMP: Never wanted to fire Powell

 

"Trump's" Sichuan drama face change is still here. Trump, who has been expressing strong dissatisfaction with Fed Chairman Powell, and even the market news released "asking how to fire Powell", recently said that although he is still dissatisfied with the Fed's failure to cut interest rates more quickly, he has no intention of firing Powell. "Mr. Too Late," Powell was finally relieved.

 

Asked if he confirmed that he did not seek to remove Powell from office, Trump replied in the Oval Office, "Absolutely not, never." And threw the black pot to the media, "This is the media is spreading nonsense. No, I have no intention of firing him. I just wish he was more aggressive in cutting rates."

 

Some analysts believe that Trump's statement is aimed at calming market tensions, and also marks a clear change in Trump's attitude. His intensified criticism of Powell and his refusal to rule out an unprecedented move to remove him from office have caused strong concerns about the Fed's independence and caused further volatility in the market.

 

 

On April 21, BitMEX co-creator Arthur Hayes posted, "Seriously, brothers, this may be your last chance to buy Bitcoin for less than $100,000." I didn't expect the market to be so effective. In other words, I didn't expect the "change of face" of the President of the United States and the richest man in the world to come so quickly. The market has been given a respite as hoped by the policy easing, but can such a rally continue with such a large policy "amplitude"?

 

At 10:30, silently watching the news that Ethereum broke through $1800, no matter, bull back!

This article is sourced from Foresight News:

https://foresightnews.pro/article/detail/83076

Respectfully submitted by the AIC Team

April30, 2025