Bitcoin climbed higher on Friday, underpinned by ongoing rally in risk assets following signals that U.S. President Donald Trump may adopt a softer stance on trade tariffs.
The world’s largest cryptocurrency rose 1.6% to $94,908.8 by 5:01 p.m. ET (22:01 GMT). Bitcoin is set to jump around 10% this week.
Mixed US-China tariff talk signals stoke renewed caution
The surge on Wednesday came after U.S. President Donald Trump reversed threats to remove Federal Reserve Chair Jerome Powell.
He also signaled a potential easing of trade tariffs on China, while media reports showed that Japan and the U.S. will engage in a second round of tariff negotiations from April 30 to May 2.
However, China on Thursday stated that no trade discussions have taken place with Washington, countering repeated claims by the U.S. government that talks had occurred.
Despite this, President Trump asserted that trade talks between the U.S. and China are underway.
In the latest development, a Bloomberg report on Friday showed that China’s government is weighing the exemption of some U.S. goods from its 125% import tariffs.
For Bitcoin, which often reacts to global uncertainty and risk sentiment, the mixed signals generated a more cautious trading environment.
As a result, Bitcoin’s momentum slowed, with prices moving in tight ranges over the past two sessions.
ARK Invest expects Bitcoin price to hit $2.4 million by 2030
ARK Invest has sharply raised its long-term Bitcoin forecast, now projecting the cryptocurrency could reach as high as $2.4 million by 2030. The updated bull case reflects a 60% increase from its January 2024 estimate and implies a 72% compound annual growth rate from the end of last year.
In a revised outlook based on adjusted active supply metrics, ARK’s base case now sees bitcoin at $1.2 million by decade’s end, while the bear case suggests a $500,000 target.
The projections are driven by a model that considers Bitcoin’s potential market share across several use cases, including institutional investment, its function as digital gold, adoption in emerging markets, and usage by governments, companies, and decentralized financial services.
ARK analyst David Puell had previously forecast bitcoin to reach $104,000–$124,000 by the end of 2024.
The cryptocurrency ended last year at around $93,000 and hit a record high of $109,000 in January before falling below $75,000 this month.
Crypto price today: most altcoins gain
Most altcoins were trading higher, extending gains amid signs of easing global trade tensions..
World no.2 crypto Ethereum rose 2.1% to $1,798.06.
World no. 3 crypto XRP stood little changed at $2.19.
Solana rose 0.7%, while Cardano fell 0.7%, and Polygon slipped 0.3%.
Among meme tokens, Dogecoin rose 0.7%, while $TRUMP was trading 13.8% higher.
