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Market News Bitcoin breaks through $90,000, rebounding more than 20% from April tariff war low

Bitcoin breaks through $90,000, rebounding more than 20% from April tariff war low

Bitcoin has reclaimed $90,000, rebounding more than 20% from its early April low.

2025-04-23

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Bitcoin

"Digital gold" Bitcoin (BTC) has re-entered the $90,000 level, the first time it has risen above $90,000 since early March, rebounding more than 20% from its early April low. According to Coindesk data, Bitcoin was last trading at $93,338, up 6.4%.

US President Trump announced reciprocal tariffs in early April, triggering a sell-off in risky assets. Bitcoin fell to $74,000 before rebounding. Market analysts believe that Bitcoin's current rise is driven by the weakening of the US dollar and funds seeking safe-haven assets, breaking away from the long-term trend of fluctuating in sync with US technology stocks.

Augustine Fan, partner at cryptocurrency trading platform SignalPlus, said that if U.S. assets decouple from global capital markets, people will revisit the long-term bullish argument for Bitcoin as a means of store of value.

In addition, Paul Atkins, who is friendly to cryptocurrencies, has taken office as the new chairman of the U.S. Securities and Exchange Commission (SEC). Paul Atkins said the priority will be to provide a solid regulatory foundation for digital assets through a "rational, coherent and principled approach."