#MarketRebound
Bitcoin $BTC Tops $93K as Trump's U.S-China Tariff Optimism Fuels Crypto Rally
Altcoins led by ETH, DOGE, SUI followed BTC higher as Treasury Secretary Bessent's comments on U.S.-China trade boosted risk appetite.
Bitcoin surged past $93,000 on Tuesday afternoon amid optimism over U.S.-China trade relations, while the broad-market CoinDesk 20 Index gained 7% over the past 24 hours.
President Trump said U.S. tariffs on China "will come down substantially" from the current 145%. Treasury Secretary Scott Bessent said at a closed event that the tariff standoff between U.S. and China is "unsustainable" and expressed hope for de-escalation.
Despite today's rally, on-chain data suggests underlying market fragility with BTC facing resistance
Bitcoin ($BTC ) surged past $93,000 on Tuesday afternoon, climbing nearly 7% amid renewed investor optimism and fresh hopes of a thaw in U.S.-China trade tensions, but headwinds persist that could cap further upside, analytics firm CryptoQuant cautioned.
Markets were buoyed by morning remarks from U.S. Treasury Secretary Scott Bessent, who reportedly told investors at a closed-door JPMorgan event that the tariff standoff with China was unsustainable. Bessent said de-escalation would come “in the very near future,” characterizing current conditions as a “trade embargo.” However, he cautioned that a more comprehensive deal between the two nations could take even years.
