Bitcoin surged above $84,000 after Donald Trump flipped the global tariff plans over his head

Bitcoin staged a ferocious rally on Wednesday, trading up to over $84,000 after Donald Trump's sudden announcement to reverse the sweeping Trump tariffs

Bitcoin price surged above $84,000 on Wednesday as Donald Trump flipped the global tariff plans over his head. The new 10% tariff policy on goods to and from other countries around the world would now exclude China, aiming to reduce fears of a deepening global trade war and trigger positive responses across all major cryptocurrencies like Bitcoin, Ethereum, and XRP.

The overall market response, in essence, reinforces the fact that economic policies are capable of influencing the movement of cryptocurrency.

Trump’s Tariff U-Turn Ignites Bitcoin Rally: A New Era for Cryptocurrency?

Bitcoin staged a ferocious rally on Wednesday, trading up to over $84,000 after Donald Trump’s sudden announcement to reverse the sweeping Trump tariffs. The new 10% tariff policy, which excludes China, would significantly relieve anxious investors fearing an escalating trade war and breathe new life into capital markets. This was in conjunction with Larry Fink, CEO of BlackRock, predicting that any economic uncertainty might present fantastic opportunities for long-term investors, particularly in cryptocurrencies.

In hours following the announcement, Bitcoin shot up by more than 8%, marking its biggest single-day move since March. Major altcoins like Ethereum, XRP, Cardano, Solana, and Dogecoin mounted double-digit gains. On-chain data from Binance disclosed a rise in Bitcoin deposits, indicating increased market activity and short-term trader sentiment.

Risks still abound as inflation figures coming up will serve as a yardstick for market sentiment. A hawkish surprise could provoke a retreat into critical support at about $73,500. Short-term prospects look promising, but with volatility at such levels, cryptocurrencies remain vulnerable to macroeconomic developments. The announcement of the tariff revision has validated Fink’s outlook and showcased the intricate interplay between global policies and the performance of digital assets.

Bitcoin Price Analysis of April 10, 2025

The trading session begins with varied fluctuations. From April 9 onwards, the chart has been flashing a string of technical analysis patterns, indicating that the market sentiment is indeed fluctuating. Bullish momentum is supported at the moment by the golden cross on the MACD, followed by an overbought RSI that led to resistance at $83,583. This resistance was strong enough to start the downward trend in price. The price fell to support around $74,670, depicted on the chart, before launching another breakout.

Chart 1, analysed by Anushri Varshney, published on TradingView, April 10, 2025

Throughout the day, these death crosses on the MACD showed a bearish trend, with the RSI oscillating between overbought and oversold, indicating periods for short trading opportunities in an otherwise quite volatile environment. Bitcoin’s value stabilization around the level of $82,185.44 is a major level of observation for further movement. The chart presents a highly reactive market driven by short-term technical indicators. Broader economic events could influence technical signals like the ones mentioned by BlackRock CEO Larry Fink, and policies, like the Trump tariff changes, would make Bitcoin price sensitive on all fronts, be it noise events or very critical technical signals.

Bitcoin’s Future Outlook

The recent reversal of the trump tariff caused quite the buzz in the cryptocurrency scene, which lifted Bitcoin to an astonishing $84,000. Crypto analysts are currently treading cautiously but hold a brighter take on Bitcoin’s direction. Larry Fink, the BlackRock CEO, believes in Bitcoin’s long-term capabilities, especially with the still somewhat insipid-facing strains in the global economy.

Such upcoming inflation data, along with geopolitical developments, becomes a decisive factor that would move the price of Bitcoin. Should that happen, according to experts, it would place Bitcoin even more as a haven from the downfall of inferior currencies against the very powerful ones like the US dollar. Uncertain but very promising for the minds that know how to invest.