Why is cryptocurrency experiencing a rise today? Bitcoin has surged by 5.47% in the last 24 hours and is now nearing $92,800. Despite this increase, the atmosphere appears rather subdued.

This subtle rise resembles the ‘Disbelief stage’ commonly found in market cycles: while prices ascend, confidence seems to lag. Here’s what this trend implies:

Disbelief Stage – A Quiet Start to Recovery?

Crypto Surge Credit to crypto analyst Kur8 for highlighting this phenomenon. Whether we call it recovery or a trap, crypto is indeed on the rise, yet confidence remains cautious.

Bitcoin is at the forefront of a broader crypto rally, adding $170 billion overnight with ETH and SOL also showing significant gains. However, the mood is still cautious due to previous stresses and failed recoveries.

“Funny how the beginning of a bull market often looks like nothing at all,” a Reddit user noted.

“Not sure..looks cute…might delete later…” Translation: Not certain about this trend… it appears positive but might not last.

“IF this works, it will prove that liquidity remains the main driver in markets, above all other factors.” — Raoul Pal

The crypto upturn coincides with a revival in broader markets. The S&P 500 increased by 2.51%, and the Nasdaq 100 rose 2.63%, showing their strongest performance in weeks. Currently, capital appears to be returning into risky assets.

Gold prices have recently fallen from a high of $3,500 to about $3,334, indicating reduced demand for safe havens and suggesting investors are becoming more adventurous.

Why Did Crypto Go Up Today? The U.S.-China Trade Context

The simultaneous rise in crypto and stocks could signal improving U.S.-China trade relations. Reports suggest that U.S. Treasury Secretary Bessent, during a private event with JP Morgan, expressed hope for reduced tensions with China.

He described the present trade climate as “unsustainable” and alluded to a potential agreement that may take years to finalize.

President Donald Trump is scheduled to meet with Xi Jinping of China in May, stating, “We’re going to be very good to China,” indicating a readiness to avoid confrontation.

Is the Disbelief Stage Indicating a Bull Market?

Market signals suggest a fresh growth phase is on the horizon, albeit cautious. Analysts at 99Bitcoins are divided on whether the recent upswing represents a true recovery or just a pause before a potential downturn.

In my view, if this genuinely is the ‘Disbelief’ stage, historical patterns suggest that subsequent phases might lead to ‘Hope’ and, eventually, ‘Optimism and Belief.’ Those who hesitate might miss out on key opportunities as the recovery builds momentum.

We hope you seized the moment and bought the dip.

DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025

Join our Discord for the latest market updates: Discord Link

Key Points

• Bitcoin has risen significantly, yet celebrations are muted.
• The uptick in crypto and stocks is tied to the promise of improved U.S.-China trade dynamics.
• President Trump is set to meet with Xi Jinping next month.