Bitcoin Holds Strong Near $102K as U.S.-China Trade Tensions Ease

Bitcoin (BTC) is holding steady near a crucial support zone around the 50-week simple moving average (SMA), a level that has consistently fueled bullish rebounds throughout its nearly three-year uptrend. As of now, BTC is trading at $101,862.02, with the 50-week SMA hovering close to $102,900—a price point that has historically sparked major rallies since 2023. The question now is whether Bitcoin bulls can leverage this level once again to trigger another leg higher.

A key catalyst boosting market sentiment is the recent de-escalation in U.S.-China trade tensions. Reports indicate that China will suspend its 24% additional tariff on U.S. goods for one year while maintaining the existing 10% levy. The Ministry of Finance also confirmed plans to remove retaliatory tariffs on American agricultural products—such as soybeans, corn, wheat, sorghum, and chicken—starting Monday.

This diplomatic thaw follows a meeting between President Donald Trump and Chinese President Xi Jinping, during which the U.S. agreed to cut fentanyl-related levies on Chinese imports. The easing of trade tensions reduces a major source of global economic uncertainty, encouraging risk-taking and potentially supporting broader market strength—including Bitcoin.

However, not all recent developments favor BTC’s bullish outlook. Sequans Communications has reportedly sold its Bitcoin holdings to retire half of its convertible debt, marking one of the first significant treasury asset sell-offs by a corporate entity. This move contrasts with the ongoing narrative of institutional accumulation that has dominated the market since 2023, potentially tempering investor optimism in the short term.

Still, with Bitcoin hovering near a historically powerful support level and macroeconomic pressures easing, market watchers remain cautiously optimistic that BTC’s next major move could once again be upward.