The price of Bitcoin (BTC) has blasted past the resistance level at $80,000 after US President Donald Trump announced a 90-day pause on his reciprocal tariff measures. The price of the coin has faced series of rejection at this point following the trade war escalation with China.
BTC Price Soar on Reciprocal Tariff Pause
At the time of writing, the price of Bitcoin was changing hands for $81,318.29, up by more than 6.18% in the past 24 hours. This rebound followed an earlier tease in which President Trump asked to buy the dip in hopes, a statement that proved speculative earlier today.
Like Bitcoin, top altcoins are also in a rebound mode, with Ethereum (ETH) skyrocketing 9.2% to $1,589.81. XRP rallied past the $2 resistance point after gaining 13.26% in 24 hours. Cardano, Solana, and Dogecoin have also staged impressive rebounds as of writing with gains of 10.2%, 12.83%, and 9.6%, respectively.
While it remains uncertain whether this uptick will last long, the general market trend is trailing the rebound mode. Stock futures are also lifted as off-writing, with optimism surrounding risk-on assets.
Is The Tariff War Finally Over?
The full context of the US-China trade war shows that President Trump only postponed full implementation for about 75 countries that have opened negotiations with the US. The reciprocal tariff announced on April 2 was lowered to 10% alongside the 90-day pause.
However, China was exempted from this latest concession. Instead, President Donald Trump increased the tariff on goods from China to 125%, effective immediately. The President highlighted that the goal is for China to stop ripping the US off.
Meanwhile, China has chosen to stand up to the United States in the tariff war. Over the past few days, China has announced a counter tariff on the U.S, a move economists warn might cripple both economies.
Although BTC price has recovered, these trade headwinds remain a major one to watch out for.
Market Shifts Focus from Trade War
The trade war between the US and China has masked the hype surrounding other key events in the crypto ecosystem. This week, the first XRP ETF leverage product outshone Solana as it went live on NYSE Arca. Dubbed the 2X Daily Long XRP ETF, the leveraged product saw a substantial $5 million inflow at its debut.
In addition, Solana developers are innovating with the introduction of Confidential Balances and Open Relayer. Ethereum Pectra upgrade remains in view while the Bitcoin price correlation with the mainstream stock market is thinning out.
These events will likely fuel a sustained reversal of the negative trend recorded in the past few weeks.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
The Push for De-Dollarization
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Why Nations Are Turning to Bitcoin for Trade Independence
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
VanEck Predicts Bitcoin to Become a Future Reserve Asset
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
A General Wave of Currency Decline
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Bitcoin’s Appeal: A Non-Sovereign Alternative
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
A Replacement or an Alternative?
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
Bitcoin number of active addresses. Source: Glassnode.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
Can Bitcoin Scale for Global Use?
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
The U.S. Senate just gave the green light to President Trump’s widely discussed tax and spending bill, passing it with a narrow 51–49 vote late Saturday night
What’s in the bill, why it’s stirring controversy, and what this means for Americans.
Alongside it, a new legislative twist could have big consequences for crypto investors: a merger of the GENIUS Act with the long-awaited CLARITY Act could finally reshape crypto regulation in the U.S.
Big, Beautiful Bill” Passed With 51–49 Votes
The late-night vote showed how divided Republicans still are about parts of Trump’s plan. In the end, the bill passed 51–49, with only Senators Thom Tillis and Rand Paul voting no. Behind the scenes, party leaders worked hard to convince hesitant senators to say yes.
Vice President JD Vance even came to the Capitol in case he had to break a tie, but his extra vote wasn’t needed this time.
For Trump, who has made this bill the centerpiece of his second term, this vote showed how much he needs his party to stick together to get things done.
As the vote dragged on, Trump didn’t stay silent. He posted on Truth Social that he’s already looking to back someone to run against Senator Tillis in 2026. Trump made it clear that he wants lawmakers who stand firmly with him and his promises to voters.
What’s in the “Big Beautiful Bill”?
It includes;
Permanent 2017 tax cuts, no taxes on tips/overtime
Roughly $150 billion in defense and border funding
A $5 trillion debt ceiling increase to make it happen
It cuts billions from Medicaid and SNAP, with a new $25 billion rural Medicaid fund for 2028–2032.
It also repeals green energy tax credits, phases out SALT itemized deductions, and proposes selling 1.2 million acres of federal land
What This Means for Crypto Traders
While the spending bill stole the spotlight, crypto traders are keeping an eye on the GENIUS Act, which is now moving to the House of Representatives for a vote.
Earlier, Tom Emmer, a top House member, said the GENIUS Act might only pass if it fits well with another bill — the CLARITY Act.
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The U.S. Senate just gave the green light to President Trump’s widely discussed tax and spending bill, passing it with a narrow 51–49 vote late Saturday night What’s in the bill, why it’s stirring controversy, and what this means for Americans. Alongside it, a new legislative twist could have big consequences for crypto investors: a …
Crypto prices are surging today, March 6, 2025, with Bitcoin (BTC) hitting a three-day high of $92,000. Ethereum price has also gained by 4.6% to around $2,300. All the top-ten cryptos by market cap have also registered strong gains, with Dogecoin (DOGE) leading the pack with a staggering 10% rise.
Despite these market-wide gains, volatility risks remain. Mt. Gox has moved $1 billion in BTC, triggering concerns of a looming selloff. Retail traders also appear to be leaving the market amid declining volumes on PumpFun and a drastic drop in the meme coin market cap.
Crypto Prices Face Volatility Risks as Mt. Gox Moves $1B Bitcoin
Defunct cryptocurrency exchange Mt.Gox has moved 12,000 BTC valued at approximately $1.09 billion. According to Arkham, these coins were moved to a new wallet address, sparking speculation of upcoming creditor repayments.
Mt.Gox Bitcoin
The Mt.Gox Bitcoin repayments could increase volatility in the crypto market. The creditors that have waited for more than a decade may opt to sell once they receive BTC. This large sell-off could trigger a short-term drop in crypto prices. Moreover, if these coins end up in the market at a time when the demand is low, it could impact Bitcoin’s rally towards $100,000.
PumpFun Volumes Plunge 94% – Can Solana Price Sustain Gains?
Transaction volumes on the Solana meme coin launchpad PumpFun have declined by 94% as most crypto prices tumbled. These volumes are now at their lowest level in nearly a year, suggesting that interest in meme coins is dropping.
PumpFun Volumes
PumpFun volumes peaked in January after the release of Solana meme coins like TRUMP and MELANIA. However, interest has gradually faded as these meme coins lost nearly all of their gains barely one month after launching.
These declining volumes have sparked a bearish Solana price prediction after it dropped by 27% in one month. At press time, SOL trades at $149 after a 4.7% drop in 24 hours.
Meme Coin Market Cap Drops by $59B As Dogecoin Price Rebounds
The total meme coin market capitalization has dropped by $59 billion from its 2025 peak of $116 billion amid falling crypto prices. At press time, the total meme coin market cap stood at $57 billion after falling by more than 50% year-to-date.
Meme Coin Market Capitalization
This decline shows traders have become hesitant to buy meme coins. However, the declining interest is prevalent in newer meme coins, as the hype fades, interest has returned to older meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
At press time, Dogecoin price had posted a notable 10% gain to trade at $0.21, while Shiba Inu price had surged by 5%.
What’s Next for Crypto Prices
Crypto prices show signs of heightened volatility. The $1 billion BTC transfer by Mt.Gox could stir panic selling and cause Bitcoin to fall below the $90,00 psychological level again. Given that altcoins have been tracking Bitcoin price, signs of weakness could also plunge altcoin prices.
Meme coins are no longer draining liquidity from the broader market. Reduced interest in new meme coins has led to PumpFun transaction volumes falling by 94%. Older meme coins like Dogecoin and Shiba Inu have also seen renewed interest, which may bode well for price.
