Bitcoin Price Up 8% Today, China Retaliates To Trump’s Tariffs Ahead of US NFP Release

Bitcoin price is rising today even after China vowed to retaliate against Donald Trump’s trade war. It rose 8% and moved back above the crucial resistance at $90,000. BTC price will continue to react to the latest trade news and the upcoming US nonfarm payrolls (NFP) data.

Bitcoin Price Rises After China Vows to Retaliate on US Tariffs

BTC and other risky assets jumped on Wednesday, even after China vowed to retaliate against Donald Trump’s tariffs. The retaliation came after Trump boosted his China tariffs from 10% to 20%, a move that will affect trade volume worth billions of dollars. 

China has already announced some retaliatory measures. It will levy up to 15% on some US goods on top of the other tariffs it announced last month. Some of these tariffs target sensitive areas of the American economy like agriculture. Also, the government added more American companies to its unreliable entity list and vowed to appeal at the World Trade Organization. 

Therefore, Bitcoin price and stocks jumped because the Trump administration appeared to soften its stand on tariffs. Howard Lutnick, the Commerce Secretary, said that the US will be willing to negotiate with the affected countries. Traders also believe that Trump simply wants concessions from its top trading partners. 

US Nonfarm Payroll Data Ahead

Bitcoin price is also rising ahead of the upcoming US nonfarm payrolls (NFP) data on Friday. Analysts anticipate that the labor market softened in February because of Elon Musk’s DOGE job cuts. An ADP report showed that the private payrolls crashed to 77k in February from 186k a month earlier.

Weak jobs numbers would be bullish for BTC price because they would boost the odds of Federal Reserve interest rate cuts. Indeed, US bond yields have crashed, raising odds of more rate cuts. 

The NFP report will come on the day that Donald Trump will have his crypto summit, where he will talk about the Strategic Bitcoin Reserves.

Bitcoin Price Technical Analysis

Bears seem to have won the Bitcoin price battle for now as it crashed from $109,200 to $90,000 today. The bulls vs bears power has crashed below zero for two consecutive weeks. While this is often a negative thing, historical data shows that Bitcoin often rebounds when the indicator turns red. For example, it crashed in August last year, leading to a strong rally. It also remained below zero in 2021 and then surged.

Bitcoin is also forming a hammer candlestick pattern that often leads to a breakout. If this happens, it will be the second consecutive hammer that may lead to a strong bullish breakout.

On top of this, Bitcoin is yet to hit the $122,000 target of the cup and handle pattern. This target was established by measuring the cup’s depth and then measuring the same distance from the upper side.

Therefore, a contrarian case can be made even as the crypto fear and greed index remained in the red. More robust gains will be confirmed if the coin rises above the key resistance at $108,426.

A drop below the support at $73,620 will invalidate the BTC price forecast and point to a crash to $50,000.

Frequently Asked Questions (FAQs)

1. Why is Bitcoin price rising after China's tariff retaliation?

The BTC price rose after China retaliation because analysts anticipated the two countries to negotiate. Lutnick has also hinted that Trump was flexible on Mexican and Canadian tariffs.

2. How high can BTC price?

Bitcoin may bounce back and hit the key all-time high of $109,200. A move above that level will point to more gains.

3. How will Bitcoin react to US nonfarm payroll data?

Bitcoin will likely rise after the US NFP data. A weak report will raise odds of Federal Reserve rate cuts.

✓ Share:

• TAGS
• Bitcoin

• Trending
• Price Analysis

• September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data
• Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub
• Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair
• Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes
• SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

• Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
• XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
• Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
• Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
• ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.