Why did crypto go up today? Bitcoin is climbing, but no one’s celebrating. Not yet. Up 5.47% in the past 24 hours, now hovering near $92,800—and the mood feels more muted than euphoric.
It’s the kind of quiet rally that smells like the ‘Disbelief’ stage in classic market cycles: prices rise, but trust doesn’t follow. Here’s what that means:
Disbelief Stage – The Quiet Start of a Comeback?
(source)
Credit to crypto analyst Kur8 for pointing out the trend. Call it recovery, call it bait. But crypto is rising again, and few seem ready to trust it.
Bitcoin is leading a wider crypto runup, adding $170 billion overnight while $ETH and $SOL are both up double digits. Still, the mood is cautious—shaped by months of fatigue and failed rebounds.
“Funny how the beginning of a bull market often looks like nothing at all,” one Reddit user pointed out.
Not sure..looks cute…might delete later…
Maybe, just maybe, it was this easy all along.
IF this works it will definitively prove that liquidity is THE dominant factor still in markets. Not tariffs. Not politics, Not rates. Not (insert your narrative). pic.twitter.com/WPyJehpmbC
— Raoul Pal (@RaoulGMI) April 22, 2025
The rally in crypto comes as broader markets wake up. The S&P 500 gained 2.51% and the Nasdaq 100 rose 2.63%, both notching their strongest moves in weeks. The mood has shifted, for now — *knocks on wood* — and capital is flowing back into risk.
Gold, which briefly touched $3,500, has cooled to $3,334. Safe haven demand is easing—another sign investors are stepping out of defensive mode.
Why Did Crypto Go Up Today? The U.S.-China Trade Dynamic
The synchronized rally in crypto and equities seems linked to hopes of better U.S.-China trade relations. Sources indicate that U.S. Treasury Secretary Bessent, speaking at a private JP Morgan event, expressed optimism about easing tensions with China.
He described the current trade situation as “unsustainable” and hinted at a potential deal, though he acknowledged it might take years to fully materialize.
President Donald Trump is now scheduled to meet with Chinese President Xi Jinping in May. “We’re going to be very good to China,” he said, sidestepping confrontation.
Is the Disbelief Stage Setting the Scene for a Bull Market?
The market cycle seems to be pointing toward a renewed stage of growth, though caution lingers. 99Bitcoins analysts are split on whether these recent movements represent genuine recovery or just a breather before another downturn.
(I, for one, am in the former camp)
If this is truly the ‘Disbelief’ stage, history shows that the next steps could involve ‘Hope’ and eventually ‘Optimism and Belief.’ However, those who hesitate may find themselves grappling with missed opportunities when the turnaround becomes undeniable.
We hope you bought the dip.
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Key Takeaways
- Why did crypto go up today? Bitcoin is climbing, but no one’s celebrating.
- The synchronized rally in crypto and equities seems linked to hopes of better U.S.-China trade relations.
- President Donald Trump is now scheduled to meet with Chinese President Xi Jinping in May.
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