Bitcoin Bounces Back on Possible Easing of Tariff War

Trump "Will Start Negotiations with Other Countries Except of China"
BTC, U.S. Stock Market Rebound by Trump's Comments on Tariff
ETH/XRP Lead Altcoun Upward...U.S.-China Conflict Limits Gains

Cryptocurrencies including Bitcoin(BTC) rebounded on Apr. 8 as U.S. President Trump announced the possibility of easing the tariff war.

President Trump said on his SNS Truth Social that he would start tariff negotiations in other countries except China. He left a comment, "We will immediately start negotiations with other countries that demanded talks with the United States."

Cryptocurrency markets have also rallied, including one in the U.S. and one in the world on hopes that the tariff war could ease somewhat.

However, the rebound was somewhat limited as the U.S. and China, which belong to the G1 and G2, showed a tight race.

Bitcoin rebounded about 6% on the morning of the 8th and then went sideways at $79,000. Ethereum(ETH) and XRP rebounded about 7% and 10%, respectively, and a number of altcoins rebounded slightly.

◇Bitcoin = Bitcoin price is $79,405 at 4:30 p.m. on Apr. 8, 2025. The Bitcoin share(dominance) was 63.57%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 60.06% and 39.94%, according to the on-chain analytics platform Sigbtc.

Despite Bitcoin's rebound, it was mainly expected that Bitcoin would eventually follow the macroeconomic trend in a large trend.

"If Nasdaq 100 falls below the average annual rate of return, Bitcoin will slow down its recovery and increase the risk of serious adjustments," cryptocurrency analysis platform Echo Inometrics said.

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Apr. 8 was Argo(ARGO), up about 26% on the day alone.

Argo is a typical utility coin. Blockchain Mainnet Argo was developed by Blocosa in 2018.

According to the white paper, Argo Coin aims to build an ecosystem that encompasses distributed applications and secure cloud service providers with an "Enterprise-ready 4th generation blockchain protocol" combined with an IT platform.

◇Fear Greed Index = The digital asset fear-greed index provided by Alternative is 24 points, maintaining the 'Fear' level. The fear stage(20-39) is a stage where cryptocurrency price volatility and trading volume increase, and the price falls. It is highly likely to form a short-term low, so you should be careful about buying.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 45.1, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr