#MarketRebound
Altcoins, led by ETH, DOGE, and $SUI, climbed alongside BTC after comments from Treasury Secretary Bessent boosted investor sentiment on U.S.-China trade.
Key Takeaways:
Bitcoin soared past $93,000 on Tuesday afternoon amid renewed optimism over U.S.-China trade relations, while the CoinDesk 20 Index gained 7% in the last 24 hours.
President Trump stated that U.S. tariffs on China would be "substantially" reduced from the current 145%. Meanwhile, Treasury Secretary Scott Bessent, speaking at a private JPMorgan event, described the ongoing trade tensions as "unsustainable" and hinted at potential de-escalation in the near future.
Despite the rally, a CryptoQuant report highlighted market fragility, noting BTC still faces strong resistance.
Bitcoin (BTC) jumped nearly 7%, reaching close to $93,400 following Trump’s comments — its highest since early March. Altcoins followed suit: Ethereum (ETH) rose over 8% to surpass $1,700, while DOGE and SUI gained 8.6% and 11.7%, respectively. The CoinDesk 20 Index also climbed 5.2%, reflecting broad-based gains across the crypto market.
President Trump also reassured markets by stating he had no plans to remove Federal Reserve Chair Jerome Powell amid ongoing discussions about interest rate cuts.
$
