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Bitcoin spent most of yesterday in consolidation, closing just +0.27% from its open despite tagging an intraday high of $94.7K. But while price action was tame, the overnight narrative was anything but—tariff turbulence has returned in force.
Trump’s Trade Whiplash Sparks Volatility
President Trump ignited fresh waves of macro volatility across risk markets, unleashing a series of trade-related shocks in the span of just a few hours:
- Floated a 25% tariff hike on Canadian imports, rattling North American equities.
- Denied any intent to change existing auto tariffs, seemingly shutting the door on recent speculation.
- Yet, within the hour, the Financial Times reported that carmakers will be granted exemptions from some US tariffs—a swift pivot that sent auto stocks tumbling from green to red in after-hours trading.
As if that wasn’t enough, Trump also addressed China’s 145% import tariff, saying: “I haven’t brought it down… but I haven’t ruled it out either.” This came just a day after speculation that Beijing’s tariffs might fall to the 50–65% range—a rumour that had fuelled the previous session’s risk-on rally.
President Trump’s personal memecoin, $TRUMP, rallied 65% after he promised dinner to its top 220 holders—because of course he did.
What This Means for Bitcoin
The broader takeaway? Macro risks are firmly back on the radar, and market direction may now hinge on tariff clarity—or the ongoing lack thereof.
Still, Bitcoin is holding its ground. In fact, over the past few weeks, it has performed strongly in both risk-on and risk-off conditions. When gold rallies, BTC rallies. When equities pop, BTC’s right there with them. Strength like this is hard to ignore, and at this point, it’s looking increasingly dangerous to sit on the sidelines.
Stormrake Spotlight: Ripple (XRP) ($2.20)
Stormrake Spotlight: Ripple (XRP) ($2.20)
XRP followed the broader market’s attempt to extend higher, closing the day just +0.18%. It’s now at a critical juncture, locked in battle with the 55 EMA—a must-win zone for the bulls. A clean break above opens the door to a retest of $2.45, while failure to hold risks a drop to $2.03, the prior higher low. That level must hold for the bullish structure to remain intact.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
After its 7% breakout rally, BTC spent the day consolidating just below $95K. Key support sits between $92.5K–$93K, a confluence of the CPR level, 21 EMA, and yearly close. Hold this range, and we likely push toward the next target at $95.7K. A breakdown? Not a structural threat yet—even a pullback to $90K keeps the bull thesis intact.
BTC Total ETF Flows for 22 April: $ + 273.8 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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