“Altcoins Led by Eth, Doge, Sui Followed BTC Higher as Treasury Secretary Bessenty’s Comments on US-CHINA Trade Boosted Risk Appetite.”, – WRITE: www.coindesk.com
Markets Were Buoyed by Morning Remarks from US Treasury Secretary Scott Bessent, Who Reportedly Told Investors at a Closed-Door Jpmorgan Bessent SAID DE-ESCALIATION WOURT “IN THE VERY NEAR FUTURE,” Characterizing Current Conditions As a “Trade Embargo.” However, he cautiolated that a more comprehenSive deal Between the Two Nations Could Take Even Years.
THEN President Trump, Speaking to Reporters in the White House Later in the afternoon, Said that US Tariffs on China “Will Come Down Substantally” from The Current 145% Level, Allaying Cone.
He Also Added that Has No Intenation of Firing Federal Reserve Chair Jerome Powell, Following Recent Pressure on the Head of the US Central Bank to Lower Interest Rates.
The Largest Crypto by Market Capitalization Rose Just of $ 93.400 Following Trump’s Comments, Its Strongest Price Since Early March. Altcoins Followed BTC Higher, with Ethereum’s Ether (ETH) Rising 8% Over The Past 24 Hours Abours $ 1,700, and Dogecoin (Doge) And Sui’s Native Token (Sui) Gaining 8.6 The Broad-Market Crypto Benchmark Coindesk 20 Index Advanced 5.2%.
Coindesk 20 Index Performance on April 22 (Coindesk)
Stocks Recovered from Yesterday’s Decline, With The S&P 500 and The Tech-Heavy Nasdaq Finishing The Session 2.5% and 2.7% Higher, Respectively. Gold, Meanwhile, Sharply Reversed from It Record Price of $ 3,500 Durying The Day and Was Down 1%.
“AS CAPITAL ROTATES INTO SAFE-HAVEN AND INFLATION-HEDGING Assets, BTC and Gold Are Proving to Be Key Beneficiaries Broadcast.
They Highlighted Rejuvenating Inflows to Spot US-Listed BTC ETFS and the Return of the so-called Coinbase Price Premium, Suggesting Demand from American Institute Investors. BTC ETF BOOKED OVER $ 381 Million Net Inflows On Monday Adding to Thursday’s $ 107 Million, Accounting To Farside Investors Data.
Bitcoin Resistance LoomsBut not all signs point to a Sustaned Breakout.
Despite the price jump, on -chain data points to Fragality Beneath the Surface, Cryptoquant Analysts Said in a Tuesday Report.
Bitcoin’s Apparent Demand Has DECREASED BY 146,000 BTC Over The Past 30 Days – An Improvement from the Sharp Drop in March, But Still Negative. Cryptoquant’s Demandum Metric, WHICH TRACKS NEW INTERESTOR, HAS DETERIOTED FURTHER TO ITS MOST BEARISH LEVEL SINCE OCTOVER 2024, The Report Noted.
Market Liquidity Remains Soft, With The Report USDT’s Market Cap Growth As A Proxy for Crypto Liquidity. USDT GREW $ 2.9 Billion Over The Past Two MONTS, BLOW ITS 30-DAY AVERAGE. Historically, BTC Rallies Coincides with USDT Growth Above $ 5 Billion, A Thrasold Not Yet Met.
Adding to the CAUATION, BITCOIN IS NOW FAKING A Key Resistance Zone Between $ 91,000 and $ 92,000 at Around The “Trader’s On-Chain Realized Price” Metric, A Level Thorts. Cryptoquant’s on -chain Bull Score Classified Current Market Conditions As Bearish, Suggesting A Pause or PullBack Could Follow IF Sentiment Weakens.
Update (April 22, 21:42 UTC): Adds President Trump’s Comments on US-CHINA Trade From A Press Conference and Following Price Action.
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