Bitcoin (BTC) Price Remains Flat on Monday Despite Trump's Tariff Respite

Leading cryptocurrencies remained flat on Monday, while stocks rose in response to President Donald Trump's tariff respite for technology products.

Cryptocurrencies traded flat on Monday evening, despite a rally in stocks following President Donald Trump’s deferral of tariffs on tech products.

Top cryptocurrency Bitcoin price moved in a narrow range between $84,000 and $85,000 during the day, setting an intaraval peak of $85,785.00 in the early trading hours.

On the other hand, Ethereum remained nearly stagnant in the $1,600 range, keeping investors waiting for an upside breakout to $1,700.

The two cryptocurrency heavyweights have diverged this month. While Bitcoin gained 2.58% since the beginning of April, Ethereum went down by 11% in the same period.

Over $213 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish long bets accounting for $120 million.

Bitcoin's Open Interest increased by 0.53% in the last 24 hours, matching its spot price movement. Meanwhile, the Long/Short Ratio on Binance dropped further, suggesting higher hopes of a downside breakout.

The market mood remained in "Fear," according to the Crypto Fear and Greed Index, although the intensity weakened from yesterday.

Top Gainer (24-Hour)

The global cryptocurrency market cap now stands at $2.68 trillion, following a minimal decrease of 0.18% over the past 24 hours.

The latest increase followed Trump’s decision to grant exemptions for consumer electronics and semiconductors, including those from China, from reciprocal tariffs, offering temporary relief to tech giants like Apple Inc. AAPL and Nvidia Corp. NVDA.

Stocks advanced during Monday's trading session. The Dow Jones Industrial Average rose by 312.08 points, or 0.78%, to close at 40,524.79. The S&P 500 increased by 0.79%, reaching 5,405.97, while the tech-focused Nasdaq Composite went up by 0.64%, closing at 16,831.48.

The market reacted positively to Trump's exemption of technology products such as smartphones, computers, and semiconductors from the new reciprocal tariffs, including those originating from China.

However, later statements from Commerce Secretary Howard Lutnick revealed that these electronics exemptions are temporary in nature, and further tariffs may be forthcoming.

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Analyst Notes: In a note to Benzinga, Chris Kline, COO and co-founder of BitcoinIRA, pointed out that Bitcoin was displaying strength in the market, and its price action around $85,000 has sparked conversations about a 'proper decoupling' from stocks.

Kline also touched upon taxes and tariffs.

"While tax season is upon us, most Americans are focused on tariffs," he said. "The reality is that this new policy from the administration is poised to maximize external revenue sources, which will allow a new tax structure for most Americans in 2025."

According to widely followed cryptocurrency analyst Ali Martinez, a crucial support level for Bitcoin is at $82,024, where over 96,500 BTCs were previously bought.

"A level worth watching closely," Martinez noted.

The most critical support for #Bitcoin sits at $82,024, where 96,580 $BTC were previously accumulated. A level to keep an eye on. 👁‍🗨