
Why Is Crypto Rising Today? Sui Crypto Updates Have Propelled A +27% Surge For The SUI Token
By mid-morning on April 23, BTC has climbed over $94,000 across Europe and is making its way back toward $100,000. This latest increase coincides with positive sentiments surrounding US-China trade dynamics, as SUI crypto has jumped more than 27% and is currently trending on CoinGecko.
President Trump has remarked that US tariffs on China “will significantly reduce” from the existing 145%. Treasury Secretary Scott Bessent supported these comments, stating at a private gathering that the tariff conflict between the US and China is “not sustainable” and expressed hope for a resolution.
BREAKING: In a surprising turn, Donald Trump seems to have dramatically shifted his stance on China. He transitioned from aggressive in his trade war to acknowledging he’s not inclined to be tough. “We’re going to be very nice.” He seems desperate.pic.twitter.com/YsZEFp2edt
— Really American
(@ReallyAmerican1) April 22, 2025
US-China Tariff Conflict Approaching Resolution: BTC ETF Inflows Witness Three-Day Surge as Capital Returns to Crypto
With Bitcoin trading comfortably above $90k again, the market demand for crypto is escalating. This is evident from the net inflows into US-based spot Bitcoin ETFs, which today (April 23) have jumped to $936.43 million, a rise of 146% from the $381.40 million noted the previous day.
This rise in inflows indicates the largest single-day gain since January 17, underscoring a significant rebound in institutional interest for Bitcoin exposure as the global tariff situation initiated by President Trump begins to stabilize.
BTC and crypto markets are not the only ones rising in reaction to Trump’s statements. Stocks bounced back from yesterday’s downturn, with the S&P 500 and the tech-heavy Nasdaq closing 2.5% and 2.7% higher, respectively.
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A positive resolution between the US and China on tariffs would pave the way for markets to gain further momentum. This would likely push Bitcoin back above $100k, with a focus on reclaiming its previous all-time high of $109k.
Having broken through the resistance zones of $92-93k and $94k, Bitcoin is poised to make a straightforward advance towards $100k.
All attention is now on May 7 and June 17, the dates for the upcoming FOMC meetings. Jerome Powell has indicated that the May gathering won’t propose any rate cuts. However, there is considerable speculation that June’s meeting may lower interest rates.
Analysts generally concur that the fixed income markets suggest that a May rate reduction is unlikely, anticipating rates will remain in the current 4.25% to 4.5% range. Likewise, the decentralized prediction crypto market Polymarket indicates approximately a 9 in 10 chance that rates will be maintained.
However, a reduction next month seems more probable, with the FedWatch tool estimating an 87% likelihood of this occurring in June.
(SOURCE)
SUI Crypto Sees Nearly 30% Increase Overnight: One of the Most Robust Major Cap Tokens in Recent Weeks
SUI crypto has risen by 50% in the last fortnight and has soared close to 30% in just the past 24 hours. It stands as one of the top-performing cryptocurrencies of April, outperforming most since the month began.
The cryptocurrency accurately retested the neckline of the cup and handle formation from a week prior. The $1.7-1.9 range has served effectively as a crucial support level for SUI, enabling it to bounce back.
Since breaking above $2.1 on Sunday (April 20), SUI has experienced a substantial rally with minimal pullbacks, climbing to $2.92. To ultimately complete the cup and handle formation, it will need to surpass $3 and swiftly reclaim the $3.1 mark seen in March.
If the $3.1 price point is reached, SUI could have a straightforward journey back towards $5, which was the last seen level in early January before the market downturn began.
According to CoinGecko, SUI peaked at $5.35 in January, marking its all-time high. While many tokens remain at least 60% away from their all-time peaks, SUI is only 45% off of its $5.35 lofty price.
A few more significant moves, driven by encouraging global economic updates concerning tariffs and potential interest rate cuts, could propel SUI back to its all-time highs and into price exploration mode.
At present, SUI crypto ranks as the 14th largest crypto asset by market cap, holding a valuation of $9.5 billion. It is just on the verge of surpassing fellow Layer-1 protocol, Avalanche (AVAX), into 13th position. A market price increase of merely $20 million from here will achieve that milestone.
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The article Why Is Crypto Up Today? Sui Crypto Update Has Fueled A +27% Rally For The SUI Coin was originally published on 99Bitcoins.