Bitcoin remained stable around the $84,500 mark on Monday after a weekend characterized by minimal price fluctuations, while conventional markets displayed contrasting investor sentiments amidst the latest shifts in US-China trade relations.
Initially, the White House disclosed on Friday that smartphones, computers, and other consumer electronics would be exempted from significant tariffs. Subsequently, the US Customs and Border Protection released a list of tariff codes that would favor tech companies such as Apple and Nvidia.
However, Commerce Secretary Howard Lutnick later suggested that these electronic goods would soon be subject to different levies that wouldn’t be associated with specific countries.
In a social media post, Trump himself refuted the earlier exemptions, declaring that “no exceptions” would apply to these items in a post on Sunday evening, stating,
“NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China[…] We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.”
Several analysts conveyed a narrative over the weekend potentially linked to Trump’s Sunday remarks, suggesting a desire to project strength amid global pressures,
– Trump raises China tariffs to 30%
– China responds with inaction
– Trump increases China tariffs to 84%
– China retaliates with matching tariffs
– Trump escalates China tariffs to 145%
– China again responds with matching tariffs
– Trump expresses his hope for Xi to reach out
– China remains unresponsive
– Trump indicates he is open to “making a deal”
– China still does nothing
– Trump retracts tariffs [on electronics]
Trump emphasized that “There was no Tariff “exception” announced on Friday.” Nevertheless, US Customs and Border Protection provided guidance on Friday suggesting the contrary.
Meanwhile, Bitcoin has been trading within a narrow consolidation range, even as US equity futures climbed. S&P 500 June futures (ESM2025) surpassed 5,460, indicating a short-term target trajectory towards 5,500, reflecting a 3.5% increase.
This positive momentum in equities coincided with a 3.33% increase in oil prices, as traders reassessed energy demand amid uncertainties regarding policies on tariffs. In contrast, US 10-year bonds and their Chinese counterparts showed modest movement, increasing by 0.20%, illustrating a muted response from the bond market to the weekend events.
Gold, often viewed as a safe haven during trade conflicts, experienced a slight decline of 0.11%.
The current price actions suggest that investors maintain their appetite for risk assets, potentially fueled by interpretations that the trade standoff may be approaching a plateau following China’s announcement of halting further tariff increases.
Moreover, the subdued reactions in the bond and gold markets indicate that China’s countermeasures and uncertainty surrounding US tariff exemptions on electronics have not significantly shifted concerns over inflation or recession.
Bitcoin’s persistence underscores that digital assets may be temporarily decoupling from macroeconomic indicators tied to trade.
Nonetheless, despite the geopolitical turbulence, Bitcoin’s trends alongside oil and stocks signify a sustained interest in risk-on investments.
As US markets open later today, more clarity will emerge regarding the influence of recent developments on key assets such as Bitcoin, gold, oil, US equities, and bonds.