Bitcoin climbs back to $68,000 as Trump indicates no new tariffs on China.

crypthub

about 3 hours ago

Tariff Policy Boosts Bitcoin

Bitcoin rose above $68,000 and settled near $67,300 after a 5% daily gain. The rally followed U.S. Trade Representative Jamieson Greer’s pledge to keep China tariffs between 35% and 50% and avoid further escalation. This policy signal eased trade‑war concerns, lifting risk assets including Bitcoin. Still, on‑chain metrics indicate the overall market structure remains fragile.

Range‑Bound Market and Losses

BTC continues to trade within a $60‑$70 k band, roughly 47% below its all‑time high. Glassnode data shows about 9.2 million BTC are held at a loss, representing nearly half of supply, a pattern typical of later bear phases. Corporate treasuries with Bitcoin exposure are also posting losses, and market breadth stays weak. Spot volume delta turned negative and ETF flows remain in outflow, limiting institutional support.

Liquidity Reset and Cautious Outlook

Open interest in Bitcoin futures fell from $15.9 bn to around $8.7 bn, reflecting a broad leverage unwind. Perpetual funding rates have normalized near zero, indicating muted speculative conviction. The 90‑day realized profit‑loss ratio dropped below 1.0, confirming an excess‑loss environment and tighter liquidity. Volatility is stable and dealer gamma suggests price sensitivity to small order flow, leaving the market stabilizing but not yet structurally recovered.