[Bitcoin Market Review – April Recap and Outlook] US-China Tensions Loom Over Bitcoin: What Will Support the Price Going Forward?

Hello, this is Marin (Masamichi Matsushima), a crypto asset analyst at Monex Securities. Let’s take another look back at Bitcoin’s price movements and explore what lies ahead.

Bitcoin Performance – April 2025

Despite intensifying tariff retaliation between the U.S. and China, which led to a "triple whammy" for the U.S. economy (falling stocks, bonds, and dollar), Bitcoin managed to hold its ground.

This was largely due to its appeal as a hedge against the dollar and strategic buying by companies like Strategy (formerly MicroStrategy). Further support came from a rebound in U.S. equities as fears of Fed Chair Powell’s dismissal eased, and the appointment of a new SEC Chair.

By the end of the month, Bitcoin had recovered to the ¥13 million range.