On Wednesday (April 23), Bitcoin surged to $93,000, and President Trump acknowledged that U.S. tariffs on China are too high and are expected to be significantly reduced. He stated he has no intention of firing Fed Chairman Powell, but the central bank should lower interest rates. Trump's TMTG group has reached a cooperation agreement to expand into the digital asset space.
Trump spoke publicly on Tuesday and acknowledged that the current tariffs on Chinese exports are too high, expecting a significant reduction in rates. This marks a softening of Trump's stance on his signature tariff policy.
On Tuesday, U.S. Treasury Secretary Scott Bessent also stated at a JPMorgan event that the tariff war between the U.S. and China would soon cool down.
Trump has stated that the Federal Reserve should lower interest rates and that he has no intention of firing Fed Chairman Powell. Additionally, Trump expressed hope that Powell would take more aggressive action on interest rates.
CryptoSlate reported that the company behind Truth Social, Trump Media & Technology Group (TMTG), is expanding into the digital asset and financial sector through a cryptocurrency exchange-traded fund (ETF).
The company revealed on Tuesday that it has completed a collaboration with Crypto.com and Yorkville America Digital to launch a series of ETFs under the Truth.Fi brand.
These ETFs are designed to combine digital assets with key U.S. industries such as energy. These funds are expected to launch later this year and will be traded through existing brokerage platforms in North America, Europe, and Asia.
The company confirmed it will invest up to $250 million of its own capital into these new financial instruments, with Charles Schwab serving as the primary custodian.
This strategy indicates that the company aims to combine traditional finance with digital assets while expanding the Truth brand beyond social media.
TMTG CEO and Chairman Devin Nunes said, "This agreement is an important step for TMTG to diversify into financial services and digital assets. We look forward to bringing the ETF to market to serve investors who believe that both the U.S. economy and digital assets will achieve significant growth."
The ETF announcement triggered a significant rise in Trump-related assets.
Google Finance data shows that Trump Media's stock price rose by over 5%, climbing to $23.20, the highest level since March.
Meanwhile, interest in Trump's official meme coin TRUMP has surged. Data shows that this Trump-related token has risen by over 7% in the past 24 hours, reaching nearly $9.
Despite the rebound, the token is still down over 88% from its January high of $71.
These developments highlight the growing intersection between Trump's media ventures, digital finance, and political influence.
Although Trump remains the major shareholder of TMTG (the company is currently valued at over $5 billion), the ownership structure of the TRUMP meme coin is less transparent.
The TRUMP coin website shows that two entities associated with Trump, CIC Digital LLC and Fight Fight Fight LLC, control about 80% of the supply of TRUMP coin.
However, it remains unclear how much personal benefit Trump has gained from the project.
Bitcoin Technical Analysis
According to CoinGape, after reaching a 14-day high, Bitcoin's price must break through another level; the consolidation area is between $90,000 and $94,000. Based on these levels, analysts believe the next reachable level could be $92,000, although some experts think that despite concerns about a false bullish breakout, Bitcoin's price could even exceed this level.
The previous high of the Kumo cloud also served as a resistance level. According to analysis, Bitcoin is currently above the Kumo cloud, and according to cryptocurrency analyst Titan of Crypto, this is a highly resistant area. If the Bitcoin price closes above this level, the next possible target will be the daily fair value gap of $92,000.
According to analyst Crypto Rover, Bitcoin's long-term outlook remains optimistic, and the analyst pointed out that the increase in supply from long-term holders is another bullish signal. As more investors hold Bitcoin for the long term, the available supply on exchanges will decrease, potentially creating upward pressure on the price.
