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“Going to Be Nice”: Crypto Surges After US Tariff Comments Boost Market Sentiment
- Trump’s statement that tariffs on China will “come down substantially” and his administration’s promise to be “very nice” to China triggered a market rally.
- The President also promised not to fire Fed Chair Jerome Powell, easing earlier concerns about ending the central bank’s independence.
- Overall, analyst DonAlt remains cautiously bullish despite technical scepticism, noting BTC is at resistance with immediate retest after breakout showing potential weakness.
- Glassnode data shows large whales continue strong accumulation while mid-sized holders (10-100 BTC) are shifting from selling to more neutral positions, potentially signalling broader market support.
The crypto market has surged overnight, with most major assets in the green. Bitcoin (BTC) is up 4.6%, Ethereum (ETH) 10.9% and XRP has gained 4.8%. Even Dogecoin (DOGE), the original memecoin, has seen 10.9% added to its price.
BTC is now trading at US$92,658 (AU$144,888), with the global crypto market cap increasing by 5.15% to a total of US$2.9 trillion (AU$4.5 trillion).
Related: XRP Devs Alerted to Major Backdoor Threat in Key JavaScript Library
Trump Says He’s Going to Be Nice
The market rally comes as US President Donald Trump gave investors hope, saying tariffs on China would “come down substantially”. His Treasury Secretary Scott Bessent added that the stalemate between the United States and China is “unsustainable”, raising hopes that a de-escalation would come “in the very near future”.
Trump also told reporters that his administration is “going to be very nice” to China:
Another calming statement made by Trump is the promise not to fire Federal Reserve Chair Jerome Powel. Yesterday Crypto News Australia reported that a rant on Trump’s own social media platform seemed to suggest the president would end the independence of the Fed – something that markets had been worried about over the past few days.
And not to forget: the new Chair of the US Securities and Exchange Commission (SEC), pro-crypto Paul Atkins, has just officially taken over the helm and made the industry one of his top priorities – which no doubt contributed to the recent rally.
Analysts Cautiously Optimistic
So, where to from here for Bitcoin and Co? Crypto Twitter analyst DonAlt is cautiously bullish, but with technical scepticism – especially in the short term.
Read also: Saylor’s MSTR Buys 6,556 More Bitcoin as US ETFs Return to Inflows
He believes the BTC price is currently at resistance, and the immediate retest after a breakout is seen as a sign of weakness rather than strength. However, a bit more upward movement could make the weekly chart look strong, suggesting bullish potential if confirmed.
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$BTC update:
— DonAlt (@CryptoDonAlt) April 22, 2025
At resistance now
I generally dislike breakdowns or breakouts that immediately retest
The trend is much stronger if you don't get the perfect retest
If you do get it it's more likely a sign of weakness instead of a good setup
Bit higher and weekly looks excellent pic.twitter.com/oMzeNNRBzv
Whales Keep Adding BTC
Meanwhile, a Glassnode analysis shows that whales holding over 10,000 BTC continue to demonstrate a strong accumulation trend, maintaining an accumulation score around 0.7 – a level that signals consistent buying activity. These large holders are often viewed as market-moving participants, and their ongoing accumulation reinforces their long-term bullish outlook on Bitcoin.
At the same time, smaller cohorts – including holders with less than 1 BTC up to 100 BTC – are showing signs of slowing down their recent distribution behaviour. Notably, the 10–100 BTC group, often considered “mid-sized” or emerging whales, has seen its accumulation score rise to approximately 0.5.
While still neutral, this shift marks a significant departure from prior months where this group had leaned more heavily toward selling.
The changing pattern suggests a possible change in sentiment among mid-sized investors, potentially setting the stage for broader market support if accumulation trends continue to rise across groups, as per Glassnode.
Read also: Vitalik Buterin Proposes Replacing Ethereum’s Core Engine with RISC-V
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
