Hey folks! Welcome to the latest edition of the Blockchain Bulletin, where we provide you with the significant developments that took place in the crypto space over the last 24 hours. Taking a strategic step, President Donald Trump announced the reduction of tariffs on China, easing the trade tension between the nations.
The tariffs faced severe backlash, following which China slapped a 10% tariff on U.S. crude oil, large displacement vehicles, and farm equipment. Also, this led to reciprocal tariffs between the nations. Amid the situation, Treasury Secretary Scott Bessent suggested a potential ‘de-escalation’, hinting that the current levels are not sustainable in the long run. With this move, the crypto market awaits a surge in the upcoming months.
Meanwhile, Francois Villeroy de Galhau, a senior European Central Bank official, warned that Trump’s trade policies are a “lose-lose game”, indicating implications in the economy. Villeroy underscored that international trade cannot and must not be reduced, as it could endanger global financial stability. He urged transatlantic leaders to seek immediate de-escalation, especially since the International Monetary Fund recently downgraded its global growth forecasts from 3.3% to 2.8%.
Cantor Fitzgerald collaborated with Tether, SoftBank, and Bitfinex to launch a $3 billion Bitcoin-focused venture called 21Capital. Reportedly, the firm will allocate BTC directly into 21 Capital, with Tether providing $1.5 billion worth of Bitcoin, SoftBank adding $900 million, and Bitfinex pledging $600 million. In a model reminiscent of Michael Saylor’s Strategy, the venture will offer equity stakes linked to Bitcoin’s performance, with shares priced at $10 and conversions based on Bitcoin’s current price.
On the regulatory side, with Paul Atkins at the helm, the crypto community anticipates a bullish outlook for the sector. Further, Atkins proposed to bring in clear rules to crypto markets and unlock new spaces for fair businesses. He further emphasized that frameworks are important for innovation and to protect investors.
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In the market side, Bitcoin bulls have staged a powerful comeback. After bouncing from lows near $75,000, Bitcoin surged to $93,708.78 on April 23, confirming a breakout that has blindsided bearish traders. Market analyst Jelle noted the daily downtrend had officially ended and described the current pullback as a “golden opportunity.” Echoing that sentiment, another analyst, Captain Faibik, posted a chart highlighting Bitcoin’s breakout from a descending wedge pattern. The move resulted in the year’s largest short liquidation event, with prices now targeting a technical objective of $112,000—marking a potential 34.94% climb from the breakout.
Further, technical support made Bitcoiin reclaim its 50-day moving average. Analysts are pointing to a bullish engulfing candle and increasing volume, both key signals that validate the recent move. Pointing out the situation, Faibik stated that traders who were bearish at $75K will now start buying in out of FOMO.
In short, the crypto world is once again defying gravity, thanks to a mix of political diplomacy, regulatory shift, and institutional capital. Whether it holds or not will be determined by the same elements that sparked the climb—trade policy, interest rates, and above all, Bitcoin’s own stubborn resilience.
