Bitcoin Slips to $94K as Traders Await U.S.-China Trade Signals

Bitcoin prices edged lower in thin holiday trade on Monday, staying within a narrow range as investors awaited stronger cues on U.S.-China trade developments and broader economic signals. The top cryptocurrency fell 1.7% to $94,437.8 as of 01:24 ET (05:24 GMT), stuck between $92,000 and $97,000 over the past week.

Trading volumes were muted due to market holidays across Asia, adding to the lackluster price action. While Bitcoin had rebounded in late April, helped by improved risk sentiment and hopes for renewed trade talks, optimism has since faded. U.S. President Donald Trump stated on Sunday that there were no immediate plans for direct talks with Chinese President Xi Jinping, though some dialogue was ongoing.

Bitcoin’s recent gains have slowed amid cooling capital inflows into U.S.-listed spot Bitcoin ETFs, which had seen robust activity through April. Despite recovering most of its 2025 losses, Bitcoin’s year-to-date performance remains subdued due to declining investor risk appetite, largely influenced by Trump’s tariff policies.

Although crypto markets aren’t directly impacted by tariffs due to their decentralized nature, negative sentiment tends to reduce interest in speculative assets like Bitcoin and altcoins.

Trump reiterated his support for crypto on Sunday, highlighting its importance in countering China’s influence in emerging tech sectors like artificial intelligence. While the former president has appointed several pro-crypto officials, his policy actions—such as the proposed strategic Bitcoin reserve—have received mixed responses.

Altcoins mostly traded lower. Ethereum slipped 2.1% to $1,806.94, XRP dropped 1.7% to $2.1705, and Cardano fell 2.8%. Solana edged up 0.2%, while Polygon dipped 0.1%. Among meme coins, Dogecoin lost 2%, while the Trump-themed $TRUMP token rose 0.3% after recent declines.