Bitcoin Jumps on Trump Comment, Futures Market Liquidation

Trump "China's Tariffs Are Expected to Be Significantly Lower"
"No Intention to fire Powell, Needed to Lower Interest Rates"
Coin's Surge...Short Bet Liquidation amount of $601 million
Experts "BTC Now Enters Rising...Expecting Over 100K Soon"

The cryptocurrency market, including Bitcoin(BTC), surged on Apr. 23 due to U.S. President Trump's comments and massive liquidation in the futures market.

President Trump left a comment on easing the trade war and resolving the conflict with the Fed chairman of the U.S. Federal Reserve.

When asked about the imposition of tariffs on China during a speech in the Oval Office on Apr. 22, President Trump left a comment, "It will be quite low, but it will not be 0%." The asset market turned to a rebound after President Trump, who had predicted a 145% tariff, showed a very relaxed stance.

On top of that, when asked about his relationship with Fed Chairman Jerome Powell, President Trump said, "I have no intention of firing him(Powell)," adding, "I hope he is more active in the idea of lowering interest rates."

As President Trump left a comment to resolve the conflict, a number of cryptocurrencies, including Bitcoin, soared. A number of short(fall) bets placed on the futures market were liquidated in the crypto market's surge, further causing a surge in the crypto market.

According to Coinpedia, a media outlet specializing in cryptocurrency, the liquidation of the cryptocurrency futures market recorded about $601 million (about 858 billion won) on the 23rd. The biggest liquidation is the liquidation of Ethereum (ETH) short bets that occurred in Binance, with a liquidation amount of about $4.3 million.

On Apr. 23, a number of cryptocurrencies recorded a rise of more than 10%, including Bitcoin maintaining the $93,000 level.

◇Bitcoin = Bitcoin price is $93,826 at 4:30 p.m. on Apr. 23, 2025. The Bitcoin share (dominance) was 64.37%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 37.90% and 62.10%, according to the on-chain analytics platform Sigbtc.

As Bitcoin topped $93,000, a number of experts have now predicted that Bitcoin has entered an upward rally.

Bitcoin trader Michael Sullivan said on his X account on the 23rd, "The current Bitcoin is showing the most amazing appearance of a one-minute candle."

"Bitcoin is showing a typical pattern of an uptrend rally and broke through a major breakthrough point today," unnamed cryptocurrency trader Crypto General noted on its X account on the 23rd.

Cryptocurrency critic 'Ted' also predicted on his X account on the 23rd that "Bitcoin will catch up with gold," adding, "Bitcoin will now challenge $100,000."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Apr. 23 was Immutable X(IMX), up about 14% on the day alone.

'ImutableX' is a Layer 2 solution based on the Ethereum network that specializes in issuing and trading NFTs.

It provides a variety of APIs and developer tools for NFTs and Web 3.0 games. ImmutableX's utility and governance token, ImmutableX, is used to pay fees in ImmutableX's ecosystem, and ImmutableX holders can take advantage of ImmutableX to collect rewards and participate in governance.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 72 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The possibility of forming a short-term high is high, so caution should be taken in selling.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 83.4, which was 'overbought'. RSI sets the relative strength between the upward and downward pressure of a specific asset price and is an indicator of the scale of overbuying and overselling of a specific asset.

권승원 기자 ksw@blockstreet.co.kr