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The Bitcoin price and the entire crypto and stock market have been operating at the mercy of the tariff wars ignited by US President Donald Trump after being sworn into office. The initial wave of tariff increases on countries such as China triggered massive crashes across financial markets, plunging the Bitcoin price below $80,000. However, the tariff wars are nearing their end with the latest announcement from the White House regarding trade between the United States and China.
White House Announces Reduction Of China Tariffs
In April 2025, US President Donald Trump had announced a drastic increase of tariffs on Chinese goods to a high 145%, with over 180 countries also seeing tariff increases. This triggered a wave of panic and retaliation, triggering what is now known as the ‘tariff wars.’ As discussions progressed, another announcement in April revealed a 90-day pause on tariffs for other countries, with the exception of China.
While China was yet to exempt, the 90-day pause did have a positive effect on the market as the Bitcoin price recovered, taking the crypto market up with it. Since then, the Bitcoin price has since recovered above $100,000, as well as the stock market seeing multiple green days.
Trade talks have since been ongoing between China and the United States and there has been a stopgap put in place for now. In a statement on the White House website, it was announced that both the Chinese and United States government at the US-China Economic and Trade Meeting in Geneva had agreed to modify their respective applications and implement a suspension of 24 percentage points of tariffs.
This agreement is expected to be in place for an initial period of 90 days, giving both parties time for more discussions toward a resolution. The statement read that this was done in “the spirit of mutual opening, continued communication, cooperation, and mutual respect.”
Why The Bitcoin Price Could Explode
Currently, the rally of the Bitcoin price is being driven by the positive news surrounding the tariffs. So, it is expected that more positive news will continue to drive up the price. The agreement between the US and China states that both countries should have implemented the tariff reduction by May 14, 2025. With only a day left, this deadline could trigger another rally.
As the news of the suspension begins to make the rounds, it signals no negative news coming out regarding tariffs for the next three months at least. This gives time and most importantly, confidence in risk assets such as Bitcoin for investors looking for gains. With the return of investors into the risk market, the Bitcoin price could quickly cross $110,000 as early as Wednesday.
Featured image from Dall.E, chart from TradingView.com
Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.
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With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.
Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.
Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
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Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.
Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.
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