Bitcoin Climbs Above $93K After Trade and Fed Comments

Bitcoin pushed toward new highs on Tuesday, reaching just under $93,600 at the time of writing and marking its strongest showing in over a month. The move came after a wave of positive signals from Washington, where comments about trade policy and the Federal Reserve gave markets a reason to rally.

Good to know

• Bitcoin broke above $93,000 for the first time since early March.
• Investor sentiment improved after talks of easing U.S.-China trade tensions.
• Trump confirmed that Jerome Powell will stay on as Fed Chair.

The morning started with remarks from U.S. Treasury Secretary Scott Bessent at a private JPMorgan meeting. According to attendees, Bessent called the ongoing tariff standoff with China “unsustainable” and said de-escalation would begin “in the very near future.” He also described the current dynamic as closer to a “trade embargo,” though he acknowledged that a broader resolution may take years to finalize.

Later in the day, President Trump addressed the issue more directly. Speaking from the White House, he said that tariffs on Chinese goods would “come down substantially” from the current 145 percent rate. That helped calm fears of a drawn-out trade battle between the two largest economies in the world.

Trump also cleared the air on another hot topic. When asked about Federal Reserve Chair Jerome Powell, he stated he had no plans to remove him, pushing back against recent speculation tied to the administration’s pressure on the central bank to cut rates.

The combination of those updates gave traders fresh optimism, leading to a nearly 7 percent jump in Bitcoin price. Ethereum also moved higher, rising over 8 percent in the past day and trading above $1,700.

The broader crypto market followed the trend, boosted by renewed risk appetite and hopes that improving U.S.-China relations could help stabilize global economic conditions.