Bitcoin 
$104,050.19It began trading near the 50-week simple moving average (SMA), which has repeatedly served as strong support in the three-year-long uptrend. This level is known as the point where Bitcoin has jumped upwards three times since 2023. The largest cryptocurrency has entered a period in which global risk appetite may increase with China’s decision to suspend the 24 percent additional tax on US goods.
China’s Trade Move Could Relieve Markets
Beijing administrationannounced that it has suspended a significant portion of the additional taxes imposed on US goods for one year in order to reduce ongoing trade tensions with the US. In the statement made by the Ministry of Finance, it was stated that retaliatory taxes on agricultural products such as soybeans, corn, wheat, sorghum and chicken will be suspended as of Monday. The 10 percent basic customs duty will remain in effect.
The decision was made last week by the US President Donald Trump with the President of China Xi Jinping It came after the meeting between After the meeting, the Washington administration withdrew half of the fentanyl-related sanctions it had imposed on Chinese goods. Mutual softening between the two parties may pave the way for a decrease in uncertainty in global markets and for investors to turn to risky assets again.
Bitcoin Tests Critical Level
Bitcoin is seeking a new balance as it approaches the 50-week SMA line at approximately $102,900. This technical threshold has stood out three times before as the region where buying momentum was reborn. Investors’ eyes are on whether a similar recovery will occur for the fourth time.
However, there are also factors that overshadow the positive outlook. Especially technology company Sequance Communications‘s half-debts in order to pay off BTC selling its assets weakened the corporate treasury narrative. Contrary to the tendency of companies to accumulate Bitcoin, such sales can negatively affect market psychology. Still, the easing in trade tensions and the increase in risk appetite may create an opportunity for Bitcoin to regain strength.
