On the 22nd, U.S. President Trump stated at the White House that tariffs imposed on China will be significantly reduced. Although he emphasized that they will not drop to zero, his attitude has softened. This sudden change in stance may be a response to U.S. Treasury Secretary Mnuchin's previous comments about the unsustainability of high tariffs on China. Mnuchin had previously said in an interview that negotiations with China would be very difficult, and both sides believe that the current situation is unsustainable. This comment quickly became headline news in European and American media, showing that the market is highly concerned about the possibility of cooling the China-U.S. trade war.
In addition to the cooling of the China-U.S. trade war, Trump's recent concentrated fire on Federal Reserve Chairman Powell for not lowering interest rates has caused the market to worry about the Fed's independence being at risk. However, yesterday, Trump also changed his tone, stating that he has no intention of firing Powell and only hopes to accelerate the pace of interest rate cuts.
In this context of dual good news, U.S. stocks performed well on the 22nd, with the Dow Jones Industrial Average soaring by 1,016.57 points, the S&P 500 index rising by 129.56 points, the tech-heavy Nasdaq index increasing by 429.62 points, and the Philadelphia Semiconductor Index rising by 80.14 points; the seven major tech giants in the U.S. stock market also closed with all gains.
Under the improving global financial atmosphere, Bitcoin, as the leader in cryptocurrency, is the first to fight back, exhibiting extremely strong performance. The price of Bitcoin broke through the $94,000 mark this morning, reaching a high of $94,142.5. As of the time of writing, the price is quoted at $93,671, with a rise of approximately 6.62% in the last 24 hours.
Overall, Trump's latest stance on tariffs and monetary policy has sparked widespread reactions globally. If the China-U.S. trade war de-escalates and global liquidity increases, it is expected to stimulate global economic performance this quarter, injecting momentum into Asian stocks, U.S. and European stocks, and emerging markets.
However, trade talks still have variables, and movements in the dollar, inflation, and U.S. Treasury bonds still need close attention. Overall, the market has rebounded in the short term, but in the medium to long term, it is necessary to pay attention to the process of digesting global macroeconomic and political risks.
Bitcoin Four-Hour Chart
The current price trend shows a strong breakout, and it is currently continuing to rise along the upper Bollinger Band. The Bollinger Band's opening has clearly widened, indicating that the market has entered a strong trend upward phase. Although the current upward trend is very strong, due to the price being far from the middle Bollinger Band, there is a technical need for a pullback to the middle band or a test of the upper band support in the short term.
From the KDJ indicator, all three line values are in the overbought area. It should be noted that an overbought state does not mean that a decline will happen immediately; however, when the indicator operates at a high level for too long, it indeed brings the risk of a technical correction. The MACD indicator shows that the DIF line is significantly leading the DEA line, and the MACD red histogram continues to enlarge, indicating that the current bullish momentum is very strong, and there is temporarily no sign of a top divergence.
The current price has reached $93,660, close to the highest point of this round of increases. Attention should be paid to several key retracement support levels: the 23.6% retracement level at $89,322, the 38.2% level at $86,491, and the 50% level at $84,205. It is particularly important to note that if the price retraces and falls below the key support level of $84,205, the current upward trend may face the risk of reversal.
Comprehensive analysis shows that Bitcoin is currently in a strong bullish trend, with technical indicators displaying increasing volume; however, caution is warranted for high-level fluctuations or short-term pullbacks. Moreover, the price is close to the previous high of $94,900, posing the risk of a double top.
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Time of writing: (2025-04-23, 14:10)
(Article by - Master Talk About Coins) This is to declare: Online publication has delays, and the above suggestions are for reference only. The author is dedicated to the research and analysis of investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks. Having been involved in the financial market for many years, I possess rich practical experience. Investment involves risks, and caution is necessary when entering the market. For more real-time market analysis, please follow the public account Master Talk About Coins for discussions.#加密市场反弹
