Bitcoin price hits 7-week high as Trump softens tone on trade war
Bitcoin has surpassed $93,000 for the first time in seven weeks, marking a 5.62% increase in 24 hours and a 12% rally over the past week. The price jumped from just below $91,500 to $93,000 in a rapid movement, prompting speculation about future price movements. Analysts attribute the rally to improved market sentiment, increased inflows into spot Bitcoin ETFs, and US President Donald Trump's recent comments on trade and interest rates. Trump indicated he would not fire Federal Reserve Chair Jerome Powell and suggested tariffs on Chinese goods would decrease, contributing to a bullish outlook among crypto analysts. On April 21, US spot Bitcoin ETFs saw a net inflow of $381.3 million. Traditional financial markets also experienced gains, with the S&P 500 up 2.51%, Nasdaq rising 2.87%, and Dow Jones gaining 2.66%.
