Bitcoin Stalls as Trade War Pressures Mount on Nvidia

Another slow day for Bitcoin, slipping approximately 1%, with Ethereum and Solana both down 2%. BTC tested the upper range discussed yesterday but couldn’t sustain a break above $86K, and has since been knocked back. Meanwhile, tariff headlines continue to weigh on traditional markets.

Despite the 90-day pause, little meaningful progress has been made between the US and European Union. Brussels expects tariffs to remain in place, as talks remain stalled with no clear breakthrough in sight.

Nvidia: The Trade War’s Favourite Target

The biggest casualty of the ongoing US-China trade skirmish remains Nvidia. Just hours after the White House suggested Trump was open to resuming trade talks with China, he moved to ban Nvidia’s H20 chips from being sold to the region. These chips were projected to contribute roughly 10.9% of Nvidia’s revenue. Following the ban, that figure is expected to fall nearly in half to just 5.9%.

In after-hours trading, Nvidia dropped nearly 7%. What’s more suspicious is that just hours before the announcement, there was an $8 million surge in put volumes on the Nasdaq 100 ETF. As expected, it dropped sharply following the news—shedding 300 points. This kind of pattern has become familiar during Trump’s presidency, with tariff shocks seemingly pre-empted by insider traders capitalising ahead of time. It’s a glaring red flag for market integrity—but in today’s regulatory landscape, it appears to be legal.

All Eyes on Powell

Jerome Powell is set to speak tomorrow morning, and markets will be watching closely—not just for any monetary guidance, but also for his reaction to the ongoing tariff flip-flops. The crypto market has been range-bound since late last week, and the tone Powell strikes could finally provide the volatility needed to push Bitcoin out of this rut.

Stormrake Spotlight: Ripple (XRP) ($2.08)

A relatively quiet day for XRP, down less than 2%. It looks like XRP has confirmed a higher high on the chart. The current pullback must hold above the recent low at $1.72 to maintain the bullish structure. Fortunately, XRP has major support above that level, with both 200-day moving averages and the broader range floor in play. A higher low here would reinforce the bullish case, though momentum still sits with the bears for now.

BTC/USD Key Levels and Price Action:

We highlighted Bitcoin’s CPR range in yesterday’s note, and after failing to break above $85,800, BTC has printed nine red hourly candles in the last eleven. The breakdown below the lower CPR level at $83.6K signals that bears have recaptured short-term momentum. This opens up the possibility of a return to the next key support at $81.6K.

Still, bulls have two critical lifelines—the 200 EMA and 200 SMA—just above that level, offering strong potential for a bounce.

BTC Total ETF Flows for 15 April: $ + 38.2 million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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