April 25, 2025
Investing.com-- Bitcoin rose on Friday and was on track for strong weekly gains, buoyed by a sharp rally earlier in the week following signals that U.S. President Donald Trump may adopt a softer stance on trade tariffs.
However, investors were still cautious due to mixed signals around potential U.S.-China tariff negotiations, leading to a range-bound trade in the previous two sessions.
The world’s largest cryptocurrency rose 0.8% to $93,269.3 by 02:23 ET (06:23 GMT).
Bitcoin is set to jump nearly 10% this week, as it surged past $94,000 on Wednesday to hit its highest level since early March.
The surge on Wednesday came after U.S. President Donald Trump reversed threats to remove Federal Reserve Chair Jerome Powell.
He also signaled a potential easing of trade tariffs on China, while media reports showed that Japan and the U.S. will engage in a second round of tariff negotiations from April 30 to May 2.
However, China on Thursday stated that no trade discussions have taken place with Washington, countering repeated claims by the U.S. government that talks had occurred.
Despite this, President Trump asserted that trade talks between the U.S. and China are underway.
In the latest development, a Bloomberg report on Friday showed that China’s government is weighing the exemption of some U.S. goods from its 125% import tariffs.
For Bitcoin, which often reacts to global uncertainty and risk sentiment, the mixed signals generated a more cautious trading environment.
As a result, Bitcoin’s momentum slowed, with prices moving in tight ranges over the past two sessions.
Most altcoins were trading higher, extending gains amid signs of easing global trade tensions..
World no.2 crypto Ethereum was largely unchanged at $1,769.57.
World no. 3 crypto XRP gained 1% to $2.1868.
Solana rose 2.7%, while Cardano advanced 4.4%, and Polygon surged 11%
Among meme tokens, Dogecoin jumped 4.2%, while $TRUMP was trading 1% lower.
