Bitcoin Stays Quiet at $94K as Market Worries Over Trade War Grow

Bitcoin stayed stuck in a tight range on Tuesday, trading at $94,375.7 by early morning in London, as investor caution grew over rising U.S.-China trade tensions and a shaky global economic outlook.

The world’s most valuable cryptocurrency slipped 0.4%, continuing a sideways trend that’s seen prices hover between $90,000 and $97,000 since late April. Traders are treading carefully as President Trump ramps up talk of new tariffs — this time targeting pharmaceutical imports — fueling fears that the trade war with China is far from over.

While crypto isn’t directly linked to global trade, its prices often swing sharply when broader market sentiment shifts. Bitcoin had seen a strong push in late April, helped by optimism around possible trade negotiations and large-scale buying by MicroStrategy (NASDAQ: MSTR). But hopes have faded, especially after MicroStrategy reported a large Q1 loss tied to its crypto holdings.

Other cryptocurrencies followed Bitcoin’s lead. Ether dropped 0.7% to $1,803.15 despite fresh long-term plans from the Ethereum Foundation. Solana fell 1.7%, Cardano lost 4.3%, and Polygon sank 5.6%. Meme coins weren’t spared either — Dogecoin fell 2.5%, and $TRUMP slid nearly 3%.

With no clear drivers in sight, crypto markets remain cautious, mirroring the broader uncertainty in global markets.