Gold Stalls, Is It Time for Bitcoin? Traders See $95K as Key Breakout Level
Cryptocurrency gains slowed on Wednesday as Bessent again warned of difficulties in reaching a deal with China.
Tom Carreras, Christian Sandor | Edited by Aoyon Ashraf Updated April 24, 2025, 12:13 PM Published April 23, 2025, 8:24 AM
Basic information:
- The cryptocurrency market has slowed its growth after US Treasury Secretary Scott Bessent said that it could take years to finalize a trade deal with China.
- BTC has risen 2.6% in the last 24 hours to reach $93,600, while other cryptocurrencies such as SUI and ADA have seen more notable gains.
- Nearly $1.3 billion in inflows into US-listed spot BTC ETFs over the past two days indicate growing interest from institutional investors amid market uncertainty.
Cryptocurrency market gains paused on Wednesday after US Treasury Secretary Scott Bessent reiterated that a full trade deal between Washington and Beijing would take years to reach.
Bitcoin (BTC) has gained 2.6% in the past 24 hours and 12.2% in the past week, trading at $93,600 for the first time since early March. The largest cryptocurrency has failed to maintain its momentum compared to the broader market, with the CoinDesk 20 Index — the top 20 coins excluding stablecoins, memecoins, and exchange tokens — up 4.2% in the past 24 hours. Sui (SUI) has gained 24% in the same period, while Cardano’s ADA and Chainlink’s LINK have both seen gains of 7%.
Crypto stocks that started off strong showed declines as the day progressed. Miners like Bitdeer (BTDR) and Core Scientific (CORZ) retreated from double-digit gains, ending the day up about 4%. Coinbase (COIN)
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