Bitcoin Stable Above $94K, Market Awaits U.S.-China Trade Deal
Bitcoin (BTC) is currently quite stable above $94,000, but there is suspense in the market. All eyes are on Beijing, where a new update is expected on the U.S.-China trade deal. The mood of the crypto market is currently a little cautious, but the long-term outlook of investors is still bullish.
Asia’s Markets Close, Liquidity Low
This week has started quite slow. Major markets in Asia—Hong Kong, Mainland China, Japan, and South Korea—were closed on Monday, due to which trading volumes remained quite low. This low liquidity kept Bitcoin’s price stable, but there was no major breakout.
The CoinDesk 20 Index, which tracks the performance of the top 20 digital assets, was down 1.5% and trading below 2,700. Both XRP and Bitcoin bounced back slightly after the April tariff shock, but there has been no significant upward move so far.
Discussion of U.S.–China Trade Deal
The biggest news on the macro level is the thaw in the U.S.-China trade relation. China’s Commerce Ministry has said that it will not discuss the thaw in the U.S.-China trade deal. is reviewing a proposal to restart negotiations. While U.S. President Trump also hinted that “Beijing wants to do a deal.”
However, bettors on prediction platforms like Polymarket are still skeptical. According to the prediction market, there is only a 21% chance that a trade deal will be finalized by June, and a 47% chance that the White House will reduce some tariffs by the end of May.
Technical Analysis: BTC is Range-Bound
Bitcoin is stuck in a tight range on a technical level—between $93,000 and $95,000. According to a recent report by Glassnode, this zone is quite important as it is aligned with the short-term holder cost basis and the 111-day moving average. If BTC fails to sustain above this level, the price could return to the lower consolidation range.
According to Glassnode’s analysis, “These levels represent a critical inflection point. If Bitcoin moves below this, many investors will have to face unrealized losses.”
But once BTC breaks the resistance between $95,000 and $98,000, the price will enter a relatively free zone where the sell pressure is low. After that, the path for Bitcoin to make a new all-time high above $100,000 could become clear.
Yuan and NTD Rally
The Chinese Yuan has also rallied on positive expectations of the trade deal and is now trading at a six-month high—around ¥7.19. In addition, regional currencies have also strengthened.
The standout performer was the New Taiwan Dollar (NTD), which reached around NT$29.6 per USD—a two-year high. The rally is being driven by foreign equity inflows of $1.4 billion and a trust boost in Taiwan’s tech sector. TSMC (Taiwan Semiconductor Manufacturing Company) reported a 60% jump in its quarterly profits, which has further increased investor confidence.
Taiwan’s central bank did intervene in the market, but they denied political pressure, saying their action was purely market-driven.
Institutional Adoption and Future Optimism
Nick Ruck, who is the director of LVRG Research, believes that “the long-term outlook for crypto is still quite optimistic. Institutional adoption is growing, and the integration of Real World Assets (RWAs) with crypto platforms is also gaining a lot of momentum.”
He also said that as traditional finance merges with the crypto world, we are getting ready to see new highs.
What will happen next?
BTC’s future now depends on the U.S.-China trade deal and macroeconomic indicators. If the trade deal has a positive outcome, Bitcoin and the broader crypto market could see a strong rally. But if uncertainty persists, BTC could remain stuck in this range.
At this time, both traders and investors are cautious. This range is crucial in the short-term, but it can also become an accumulation phase for long-term holders.