Bitcoin at Make or Break Level as China Suspends 24% Tariff on U.S. Goods

Why It Matters

Reduced trade friction removes a major source of macro uncertainty, potentially encouraging investors to flow into risk assets like Bitcoin, while the Sequans sell‑off could temper that upside, making the 50‑week SMA a make‑or‑break pivot point for the cryptocurrency.

Summary

Bitcoin is hovering near its 50‑week simple moving average around $102,900, a historically strong support level that has propelled three prior rallies in its three‑year uptrend. China announced it will suspend the 24% additional tariff on U.S. goods for a year, retaining only the baseline 10% levy, signaling a de‑escalation of U.S.–China trade tensions after recent high‑level talks. The easing of geopolitical risk is expected to boost risk appetite and underpin Bitcoin’s bullish case, but Sequans Communications’ decision to liquidate part of its BTC holdings to retire convertible debt adds a counterweight to market sentiment.