Bitcoin price saw a significant drop to $93,500 on April 28, following the trend of declining US Treasury yields, indicating a shift in investor interest towards safer assets. Although traders have enjoyed a 6% increase over the week, there’s uncertainty around Bitcoin’s ability to hold values above $95,000. Investors initially felt optimistic due to China's tariff reductions on some US imports, but this sentiment soured after US Treasury Secretary Scott Bessent commented on trade agreements with China. Concurrently, while many US companies are reporting strong earnings, recession fears loom as existing home sales have seen a notable decline. Experts suggest that a sustained rally in Bitcoin above $100,000 is unlikely without clearer decoupling from equities and reassurance of liquidity support from central banks. Traders remain focused on US interest rate trajectories amid a persistent economic downturn, emphasizing the need for Bitcoin to establish itself as a reliable hedge against such uncertainties.

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