Bitcoin Surges Past $84,900, Aiming to Break a Three-Month Downward Trend

This increase follows the recent announcement by the U.S. Trade and Customs Service, which exempted key technologies from tariffs imposed during the Trump administration.

Bitcoin price rose past $84,900 on Saturday, April 12, aiming to break a three-month downward trend amid reports that the U.S. Trade and Customs Service had exempted key technologies from tariffs imposed during the Trump administration.

This development signaled a potential easing in the ongoing trade war between the U.S. and China, which in turn brought optimism to investors in the crypto market.

Bitcoin (BTC) price rose by more than 1.5% on Saturday as the market continues to digest the new round of tariff exemptions announced by the U.S. Trade and Customs Service last week.

The list of exempted items included mainly electronics, such as smartphones, computers, and chips, which are currently subject to a 125% tariff on imports from China, in addition to a basic 10% global tariff.

This move signaled that the U.S. may be willing to make concessions in the trade war with China, which has led to a deterioration in economic relations and sparked fears of a global recession.

According to market analysts, the exclusion of these major technology products is crucial, considering that the U.S. imports over $60 billion worth of smartphones annually.

“These exclusions cover some of the most important types of imports, which is another indication that the United States is retreating in the trade war,” financial analyst Kobeissi noted on the social media platform X, formerly known as Twitter.

As Bitcoin rallies, other cryptocurrencies have also shown significant growth, with Ethereum (ETH), XRP, and Cardano (ADA) rising approximately 6% in the same timeframe.

This collective uptrend indicates an increased risk appetite among investors in the cryptocurrency market.

The overall market capitalization of the two largest stablecoins, Tether (USDT) and USD Coin (USDC), has remained above $200 billion, slightly below record highs.

The recent bullish sentiment in the cryptocurrency market is juxtaposed against rising trade tensions between the U.S. and China, where both countries have implemented import duties exceeding 100% on each other’s goods.

Despite these trade war-induced price surges, some segments of the financial market appear to be pricing in disinflation in the U.S., countering widespread inflation fears.

Analysts predict that this could enable the Federal Reserve to consider lowering interest rates soon.

In the context of Bitcoin’s recent performance, the cryptocurrency is attempting to establish a foothold above a downward trend line that has characterized a significant sell-off from its record highs above $109,000.

A breakthrough of this trend line could attract more buyers, further supporting the upward momentum.

Meanwhile, Ethereum has also shown promising signs. In April 2025, ETH traded around $1,566 after a brief dip, signaling the potential for a market bottom.

Analysts at AZCoin News explained that long-term support at $1,600 is currently being tested, with ETH having recently rebounded by 3.88% from a low of $1,507.70.

Ethereum’s market dynamics mirror previous accumulation phases, as it approaches critical support zones. The technical indicators suggest that if the support holds, there could be a price target of $2,450 to $3,000. Historical cycles indicate that stronger rallies could push prices to between $13,000 and $15,000, assuming the current market conditions persist.

Despite the positive price movements, the overall market volume has decreased by 49.39%, dropping to $15.99 billion. This low trading volume during price recoveries often signals cautious trading behavior among investors.

However, similar conditions have been observed prior to larger market movements, particularly when long-term indicators align with technical signals suggesting a market bottom.

As Ethereum consolidates around the $1,600 mark, traders are closely monitoring key support areas and momentum shifts. The ongoing trend of stagnant capital flow, with Ethereum’s monetary flow remaining below $2 million, indicates that long-term holders are inactive, which historically correlates with future accumulation.