The last 24 hours have been crazy for the crypto market. Bitcoin pumped from 85k to 94k. That is a kind of pump we don’t see every day. But the question of the day is are the bulls really back? Till when will this pump last, and which altcoins can pump the hardest!
Let’s find out together what’s going on with Bitcoin and the crypto market.
Why Is Bitcoin and the Crypto Market Pumping?
There are various reasons why the crypto market started pumping overnight. 1 Most of them have to do with President Trump not delivering what he promised. We still have the 90-day tariff pause, which is good. However, not a single deal has been made yet. This takes time.
Trump can’t even cut a deal with Japan, who has a *lower* tariff rate than we do.
Some countries are also calling it a day and don’t want to give in any longer to the US. For example, Japan. It was looking to make a deal with the US and backtracked on this.
Japan won’t just keep conceding to US demands to reach a deal over tariffs, Prime Minister Shigeru Ishiba says https://t.co/LqtjT9NcAL
At the same time, China is playing hard ball. First, the world order has changed in 25 years. The USA is no longer the dominating trade force it used to be. See the picture below.
But more importantly, China sent a warning. If countries cooperate with the US in ways that compromise their interests, they will be retaliated against. So, this whole tariff war seems to be backfiring mostly on the US now. It even seems to unite Japan and China.
Last night, China escalated the US trade war once again.
China warned that countries who cooperate with the US in ways that compromise their interests will be retaliated against.
This effectively means countries must PICK between the US and China when conducting trade. pic.twitter.com/NhXIRUN31r
Next up is Jerome Powell. From calling him all kind of names to wanting to fire him, we’re back at “I’m not firing him”. It seems that Trump had to take a knee a few times here and tone down his rhetoric. All this combined, though, is very bullish for the financial markets. Especially for crypto.
Something doesn’t add up here:
1. Trump on April 7th: Fed Chair Powell is “slow moving”
2. Bessent on April 14th: Trump Admin is thinking of successor to Powell
3. Trump on April 17th: Fed Chair Powell “will be out of there”
4. Trump on April 19th: “Studying” if he can fire…
The Trump camp sees this pivot differently. They call it intentional. He doesn’t lose, instead he strategically retreats. Classic Trump playbook. Testing the boundaries and see how far he can go.
How Long Will this Bitcoin and Crypto Pump Continue?
Bitcoin keeps making moves. The right moves. In 24 hours it went from $88k to $94.5k. For good measure, that’s $6k. These are jumps that you can expect in bull markets. Your portfolios should be dark green now. But, will this last? And if so, for how long?
Quite a few X profiles with lots of followers state that this is the beginning. The beginning of the next leg of this bull run.
For example, Plan B states that there are still 7 months to go in the 18-month halving window. 6 months before the halving and 18 after. That splits Bitcoin’s 4-year cycles into two 2 year cycles. A few days ago, he wrote “so it begins”. He has 2.1 million followers.
7 months to go in the [6 months before – 18 months after the halving]-period: 7 morepic.twitter.com/J4QRIy796c
All of these guys predicted the drop to $70-$75k, that recently happened. Now they all predict prices for $BTC to go up to between $150k and $250k. Let’s take a look.
Dave the Wave, 150k followers, predicts $160k.
Arthur Hayes, with 685k followers, predicts $250k for this year.
Cryptobirb, with 708k followers, expects a $235k+ top.
BitQuant, who has 82.6k followers, calls for at least a $145k top.
That’s all during this year. And remember, these guys all predicted the recent drop to $72-$75k. Better brace yourself, since this may last another 6 to 7 months. And no, we will not be only going up, there will be pullbacks as well. So, remember to take profits along the way. Don’t roundtrip this.
Is this a Bear Trap?
A bear trap is a false signal. Like being in a downtrend, as we were, to a sharp price rise. It liquidates all shorts. Shortly after that, the price returns to a downtrend. Well, what I just described a moment ago, it doesn’t look like a bear trap.
The guys, I mentioned before, use all kind of metrics to come to their conclusions. This includes TA, experience, and knowledge of how to interpret macro events. Never say never, but it looks like this is the restart of the bull run.
Trump slowing down on the tariffs is bullish. Very bullish. It brings back certainty in the financial markets, and that’s what these markets like.
We also have a speech by Scott Bessent coming up tomorrow. That’s the speech on “the state of the financial system”. He is the U.S. Treasury Secretary. If he doesn’t talk about market structure, it could be a bearish signal.
However, if he talks about; “accepting non-QE liquidity adjustments as “prudent stewardship,” we’re good. The printer will have to wait for just a little bit longer, but the charts may look green.
The Bessent Signal: Why This Isn’t Just a Routine Update
Scott Bessent now acting as U.S. Treasury Secretary announcing a speech on “the state of the financial system” tomorrow at 10:00am. This is at a time when swap spreads are imploding, gold is soaring, FX vol is flashing… pic.twitter.com/HfCbTSjVth
Three alts we are expecting to benefit from this pump include:
Sui, the fastest growing ecosystem in the industry
$TAO, as Bittensor becomes the focal point for where crypto meets AI and
$ADA, as Midnight brings the first level of real privacy to a major blockchain ecosystem.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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(@davthewave) April 22, 2025
