{"id":114006,"date":"2025-04-24T11:04:20","date_gmt":"2025-04-24T07:04:20","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114006"},"modified":"2025-04-24T11:04:24","modified_gmt":"2025-04-24T07:04:24","slug":"bitcoin-slips-after-hitting-seven-week-high-but-trade-optimism-supports-broader-sentiment","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-slips-after-hitting-seven-week-high-but-trade-optimism-supports-broader-sentiment\/04\/24\/market-updates\/","title":{"rendered":"Bitcoin Slips After Hitting Seven-Week High, But Trade Optimism Supports Broader Sentiment"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Bitcoin prices edged lower on Thursday as traders took profits following a strong rally, though broader optimism around easing trade tensions between the U.S. and key global partners kept overall sentiment upbeat.<\/p>\n\n\n\n<p><strong>Bitcoin Falls After Rally<\/strong><\/p>\n\n\n\n<p>The world\u2019s largest cryptocurrency dropped 1.2% to $92,575.3 by 02:35 ET (06:35 GMT). The pullback followed a nearly 7% surge on Wednesday that briefly pushed Bitcoin above $94,000 \u2014 its highest level since early March.<\/p>\n\n\n\n<p>The dip is largely attributed to profit-taking after the recent spike, with traders locking in gains from the recent momentum rally.<\/p>\n\n\n\n<p><strong>Tariff Relief and Fed Signals Fuel Risk Appetite<\/strong><\/p>\n\n\n\n<p>Wednesday\u2019s rally came after President Donald Trump softened his tone on two key market drivers: Federal Reserve policy and trade relations with China. Trump walked back his recent threats to remove Fed Chair Jerome Powell, easing investor fears about central bank independence. He also suggested that steep tariffs on China could eventually be reduced, provided Beijing returns to negotiations.<\/p>\n\n\n\n<p>Treasury Secretary Scott Bessent added that current tariff levels are unsustainable and acknowledged the need for potential easing. Reports also confirmed that Japan\u2019s Economy Minister Ryosei Akazawa will visit Washington from April 30 to May 2 for a second round of trade talks \u2014 another encouraging sign for global trade stability.<\/p>\n\n\n\n<p><strong>Bitcoin Briefly Becomes 5th Largest Global Asset<\/strong><\/p>\n\n\n\n<p>On Wednesday, Bitcoin\u2019s rally lifted its market capitalization to around $1.87 trillion, briefly overtaking Alphabet (Google) and ranking as the world\u2019s fifth-largest asset by value. It trailed only gold, Apple, Microsoft, and Nvidia.<\/p>\n\n\n\n<p>By Thursday morning, Bitcoin had slipped back below silver and Amazon, falling to the eighth position in global asset rankings.<\/p>\n\n\n\n<p><strong>Altcoins Also Pull Back<\/strong><\/p>\n\n\n\n<p>Altcoins, which had followed Bitcoin\u2019s rally midweek, also saw modest declines:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ethereum fell 0.8% to $1,774.93<\/li>\n\n\n\n<li>XRP dropped 2.8% to $2.1801<\/li>\n\n\n\n<li>Solana declined 1.3%<\/li>\n\n\n\n<li>Cardano fell 1%<\/li>\n\n\n\n<li>Polygon lost 0.5%<\/li>\n\n\n\n<li>Dogecoin dropped 4%, marking the steepest decline among meme tokens<\/li>\n<\/ul>\n\n\n\n<p><strong>Conclusion<\/strong><\/p>\n\n\n\n<p>Despite Thursday\u2019s modest pullback, Bitcoin and the broader crypto market remain supported by improving global sentiment. Signals from Washington point to a potential de-escalation in tariff pressure, while political restraint regarding the Fed has temporarily stabilized investor confidence. The near-term direction of crypto assets may hinge on upcoming developments in U.S.-China and U.S.-Japan trade discussions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin prices edged lower on Thursday as traders took profits following a strong rally, though broader optimism around easing trade tensions between the U.S. and key global partners kept overall sentiment upbeat. Bitcoin Falls After Rally The world\u2019s largest cryptocurrency dropped 1.2% to $92,575.3 by 02:35 ET (06:35 GMT). The pullback followed a nearly 7% &hellip;<\/p>\n","protected":false},"author":9,"featured_media":99111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-114006","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=114006"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114006\/revisions"}],"predecessor-version":[{"id":114007,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114006\/revisions\/114007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99111"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}