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Bitcoin climbed on Thursday, rebounding from Wednesday’s lows as investors welcomed signs of possible trade de-escalation between the U.S. and major partners like Japan and China. Meanwhile, hawkish comments from Federal Reserve Chair Jerome Powell added a dose of caution but did little to dent the rebound in crypto markets.
- Bitcoin (BTC) rose 1.6% to $84,699.0 by 03:15 ET (07:15 GMT)
- The token had dropped as low as $83,000 on Wednesday, pressured by trade tensions and regulatory uncertainty
Trump Hints at Progress With Japan, China on Tariff Talks
Bitcoin’s rebound came as markets responded positively to developments in U.S. trade diplomacy:
- President Donald Trump hailed “big progress” in talks with Japan, signaling the potential for a bilateral trade deal
- A Bloomberg report noted China is open to renewed trade negotiations, though it demands more consistent and respectful diplomacy from Washington
The reduced threat of a prolonged trade war was seen as supportive for Bitcoin, which often acts as a hedge against geopolitical and economic disruption.
Powell Pushes Back on Rate Cuts, Warns of Persistent Inflation
While risk sentiment improved, Federal Reserve Chair Jerome Powell offered a hawkish counterweight, emphasizing:
- No near-term plans for interest rate cuts
- A preference for a “wait-and-see” approach amid sticky inflation and trade-related price risks
This stance supports the U.S. dollar, but also signals potential headwinds for risk assets if financial conditions remain tight.
Still, crypto markets appeared to shrug off Powell’s caution, focusing instead on signs of geopolitical stabilization.
Altcoins Follow Bitcoin’s Lead; Solana Soars
Altcoins posted broad-based gains, continuing their volatile outperformance relative to Bitcoin:
- Ethereum (ETH): +2.8% to $1,608.20
- XRP: +2.4% to $2.0991
- Solana (SOL): +8%, leading major gainers
- Cardano (ADA): +3.3%
- Polygon (MATIC): +1%
Meme coins also joined the rally:
- Dogecoin (DOGE): +3%
Outlook: Focus Shifts to Policy and Trade Developments
With trade negotiations progressing and monetary policy staying restrictive, crypto markets remain in a delicate balance. Key factors to watch include:
- Official confirmation of U.S.-Japan and U.S.-China trade progress
- Follow-through from Powell’s comments at upcoming Fed events
- Bitcoin’s ability to hold above $84,000—a key level for bullish momentum
For now, the crypto market rebound appears constructive, especially if geopolitical tensions ease and macroeconomic uncertainty stabilizes.
