Bitcoin Dips Below $95,000 as Investors Eye Trade Developments

Bitcoin slipped on Monday, falling 1.7% to $94,437 during early trading, as a lack of progress in U.S.-China trade discussions and quiet holiday markets kept risk appetite in check.

With many Asian markets shut for public holidays, volumes across crypto exchanges were thin. Traders largely stayed on the sidelines, waiting for clearer signals from policymakers after recent optimism over trade talks faded.

Bitcoin had seen a sharp rebound in late April, fueled by hopes that Washington and Beijing might return to the negotiating table. But over the weekend, President Donald Trump told reporters there were no immediate plans to meet with Chinese President Xi Jinping, though some backchannel communication was underway. That cooled investor sentiment.

While crypto assets aren't directly exposed to tariffs, negative headlines around global trade often sour the mood for speculative investments, leading to broader pullbacks in digital coins.

Bitcoin has now traded in a relatively tight range between $92,000 and $97,000 over the past week. Meanwhile, inflows into U.S.-based Bitcoin ETFs have slowed after a strong showing in April, another sign that momentum may be fading.

Trump Backs Crypto, Warns of China’s Influence

In a separate development, Trump voiced strong support for cryptocurrencies, calling them “very important,” while emphasizing the need to prevent China from dominating the sector. “If we don’t lead, they will,” he told reporters aboard Air Force One. Despite these comments, the administration has so far made limited progress on any concrete crypto regulation or policy.

Altcoins Under Pressure

Altcoins traded lower in tandem with Bitcoin. Ethereum dropped 2.1% to $1,806. XRP was down 1.7%, and Cardano sank 2.8%. Polygon eased 0.1%, while Solana bucked the trend with a modest 0.2% gain.

Dogecoin lost 2%, while the $TRUMP token edged up 0.3% following several sessions of steep declines.

With global markets largely on pause, crypto traders are now focused on upcoming U.S. economic data and potential developments on the trade front that could break the current stalemate.