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Bitcoin Surges Amid Optimism Over US-Japan Trade Talks

Bitcoin gains 1% to $84,621 as positive US-Japan trade negotiations boost risk sentiment. Altcoins rise, with Solana surging 6.8%, amid broader market optimism.
Published on 2025-04-17

Bitcoin rose 1% to $84,621 on Thursday, fueled by optimism over US-Japan trade talks and potential broader deals. The cryptocurrency rebounded from Wednesday's low of $83,000, reflecting improved risk sentiment in global markets.

Trade Talks Spark Optimism

Positive developments in US trade negotiations with Japan and China lifted investor confidence. President Trump highlighted "big progress" in tariff discussions with Japan, while China expressed openness to trade talks, albeit with conditions. These signs of easing trade tensions reduced global economic uncertainty, benefiting Bitcoin and other alternative assets.

Powell's Hawkish Stance Draws Trump's Ire

Federal Reserve Chair Jerome Powell signaled higher interest rates for longer to curb inflation, prompting criticism from Trump. The president called for Powell's termination, arguing that rates should be cut immediately. Powell's term as Fed Chair runs until May 2026, and his governor term extends until February 2028.

Altcoins Rally Alongside Bitcoin

Altcoins gained traction, with Ethereum rising 1.7% to $1,595.16 and XRP climbing 1.7% to $2.1035. Solana surged 6.8%, while Cardano and Polygon added 2.9% and 0.6%, respectively. Dogecoin jumped 2.5%, reflecting broader momentum in the crypto market.

The rally underscores the interconnectedness of crypto markets with global economic developments, as investors weigh trade progress and monetary policy against inflation concerns.

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