For the first time in seven weeks, Bitcoin exceeded $ 93,000, triggering a change of feeling that resulted in more than $ 600 million in cryptocurrency.
At the time of the press, Bitcoin (BTC) is negotiated at $ 93,069, up 5% in the last 24 hours. Ethereum (ETH) jumped from $ 12% to $ 1,768 while Solana (soil) increased by $ 149. The overall market capitalization of the cryptocurrency market increased by 4% to just over 3 dollars.
According to Coinglass data, $ 602 million has been liquidated from the cryptocurrency market in the last 24 hours, an increase of 130%. In addition, open interests increased by 14% to 121.6 billion dollars, indicating an increase in leverage in the market. Despite the global market rally, the Altcoin season index, which rises at 16, shows that the market is still in “Bitcoin season”.
Us Bitcoin Exchange exchanged funds, however, recorded their third consecutive day in entries. On April 22, net entries reached $ 936 million, according to Sosovalue data. It was the highest daily total since Donald Trump took office earlier this year.
The rally has been largely fueled by an improved market feeling, investors anticipate a potential cooling of the American-Chinese trade war. At a White House press conference on April 22, President Trump softened his position on several key economic issues, as reported by The Guardian. The president said that the prices on Chinese imports “would decrease considerably”, although they are not eliminated.
He also announced that he had “no intention” to withdraw the president of the federal reserve, Jerome Powell, after having previously criticized him interest rates. These comments came alongside the declarations of the Treasury Secretary Scott Bessent, who said that the current prices were not durable and referred to a possible de-escalation in the American-china commercial dispute.
In addition to the cryptographic markets, traditional markets responded positively, the S&P 500 increasing 2.51%, the NASDAQ up 2.87%and the Dow Jones winning 2.66%, according to Google Finance Data. Gold has also seen net movements, briefly going to $ 3,500 before retreating.
The next interest rate decision of the federal reserve and the ongoing budgetary negotiations between the United States and China will probably remain the key Bitcoin catalysts in the coming weeks.
