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Bitcoin prices fell on Tuesday, retreating further from recent record highs as investors locked in profits ahead of key U.S. inflation data, even as optimism from the U.S.-China trade truce offered a degree of support to broader risk sentiment.
By 02:03 ET (06:03 GMT), Bitcoin (BTC) was down 1.9% at $102,363.0, cooling after last week’s explosive rally that pushed the token past the $100,000 threshold and as high as $105,000.
Profit-Taking Ahead of CPI Data
The pullback comes as traders position cautiously ahead of the U.S. Consumer Price Index (CPI) report due later Tuesday. A stronger-than-expected inflation reading could temper expectations of Federal Reserve interest rate cuts, a key macro driver for speculative assets like cryptocurrencies.
Despite the retreat, BTC remains more than 20% higher over the past two weeks, fueled by easing geopolitical and trade tensions and continued inflows from institutional investors.
U.S.-China Tariff Deal Lifts Broader Sentiment
Bitcoin’s rally last week was bolstered by news that the U.S. and China agreed to temporarily slash reciprocal tariffs. The U.S. reduced its tariffs on Chinese goods from 145% to 30%, while China cut its retaliatory tariffs from 125% to 10%, both for a 90-day period.
The tariff de-escalation was formalized in a joint statement following Geneva talks, which marked the first major progress in trade diplomacy between the two nations in 2025.
Adding to the optimism, President Donald Trump signed an executive order lowering duties on low-value Chinese imports (De Minimis) from 120% to 54%, further relieving pressure on supply chains.
SEC to Introduce New Crypto Rules
Markets are also digesting regulatory headlines, including SEC Chair Paul Atkins’ announcement of forthcoming rules governing digital tokens. These are expected to address token distributions, secondary trading, and exemptions from traditional securities law.
While the details are pending, the move is viewed by analysts as a step toward regulatory clarity, potentially fostering greater institutional adoption in the U.S.
American Bitcoin to Go Public
Amid the more favorable U.S. regulatory climate, American Bitcoin, a mining venture co-founded by Eric Trump and Donald Trump Jr., confirmed plans to go public via a merger with Gryphon Digital Mining, with the combined entity set to list on Nasdaq.
The announcement underscores the Trump administration’s pro-crypto positioning, which has already spurred renewed interest from firms aiming to tap U.S. capital markets.
In parallel, Animoca Brands, a major Hong Kong-based crypto investor, is reportedly exploring a U.S. IPO, according to the Financial Times.
Altcoins Tumble; Meme Tokens Under Pressure
While Bitcoin’s losses remained modest, altcoins saw sharper declines:
- Ethereum (ETH) fell 2.5% to $2,456.57
- Solana (SOL) dropped 3%
- Cardano (ADA) slid 3.5%
- Polygon (MATIC) slumped 4%
Notably, XRP bucked the trend, gaining 4.5% to $2.5071, supported by positive sentiment after recent legal developments and ecosystem growth.
Among meme tokens, Dogecoin (DOGE) plunged 7.8%, while $TRUMP—a politically themed token—declined nearly 10%.
M&A Buzz: KindlyMD Skyrockets on Bitcoin Treasury News
Shares of Kindly MD Inc (NASDAQ:KDLY) surged over 600% intraday to a peak of $31.45, before closing up 251% at $13.69, after the firm announced a merger with Nakamoto Holdings to adopt a Bitcoin treasury reserve strategy—a move reminiscent of MicroStrategy’s earlier model.
