On April 24, 2025, the Bitcoin price plunged 0.3% to trade at $93,433. The short slowdown in recovery momentum could be linked to recent comments from Chinese officials denying the claims of progressive trade talks with the United States. As the broader market faces the risk of renewed correction, the BTC price teeters at bullish support, signaling the risk of a potential breakdown.
Trump’s Diplomatic Optimism Meets Chinese Rebuttal
In the third week of April, the crypto market witnessed a surge in buying pressure as Bitcoin surged past the $90,000 mark. The bullish momentum was primarily triggered by the easing panic surrounding the ongoing tariff war, as Donald Trump’s assured diplomatic progress of forming trade deals with several countries influenced China.
However, Guo Jaikun, the spokesperson of China’s Ministry of Foreign Affairs, publicly denied any ongoing trade negotiations with the United States. His statement contradicts Trump’s assertion earlier this week that “productive discussions” were underway between Washington and Beijing.
If the trade tensions between the U.S. and China continue, the broader market would struggle to drive a sustained recovery and face another pullback risk.
However, Jaikun assured that China is open to talks with the United States and will negotiate a trade deal based on equality, respect, and mutual benefit.
Bitcoin Price Waivers at Key Pivot Level
The Bitcoin price in the last two weeks showcased a high-momentum rally from $74,588 to $93,571. The bullish upswing reclaimed the fast-moving average of the 20-and-50-day exponential moving averages, indicating the initial change in market sentiment.
The coin price now seeks suitability above $90,000 before challenging the $100,000 psychological level. With the current momentum, the buyers should drive a 6% surge to hit $100k, followed by a leap to $109,500.
However, if the global tariff war escalates, the BTC price will break below the $90,000 support and form another lower high. The reversal will signal sell-the-bounce sentiment in the market and drive a prolonged pullback to the $75,000 floor.
Also Read: Ethereum Drops Below $1,800: Is a Retest of $1,300 Now Inevitable?
