Investing.com-- Bitcoin fell on Thursday after rallying in the previous session, as investors locked in some profit at the seven-week peak, while the token remained supported by signs of easing trade tensions between the U.S. and its key trading partners.
The world’s largest cryptocurrency fell 1.2% to $92,575.3 by 02:35 ET (06:35 GMT).
Bitcoin surged nearly 7% past $94,000 on Wednesday to hit its highest level since early March.
Signals of easing tariff tensions boost risk appetite
The surge on Wednesday came after U.S. President Donald Trump walked back recent threats to remove Federal Reserve Chair Jerome Powell.
He also signaled a potential easing of trade tariffs on China, fueling hopes for a more stable economic outlook.
U.S. Treasury Secretary Scott Bessent said Wednesday that high U.S.-China tariffs are unsustainable, as the Trump administration signaled willingness to ease trade tensions.
The positive sentiment was further supported by media reports showing that Japan’s Economy Minister Ryosei Akazawa will visit Washington from April 30 to May 2 to engage in a second round of tariff negotiations.
These factors improved the global risk appetite, prompting flows into Bitcoin and other risk-sensitive assets.
Bitcoin briefly overtook Google to become 5th largest asset in market value
Bitcoin briefly overtook Alphabet (NASDAQ: GOOGL ) on Wednesday to become the world’s fifth-largest asset by market capitalization, reaching approximately $1.87 trillion.
This milestone placed Bitcoin ahead of tech giants like Google, Amazon (NASDAQ: AMZN ), and Meta (NASDAQ: META ), trailing only gold, Apple (NASDAQ: AAPL ) Inc (ETR: AAPL ), Microsoft (NASDAQ: MSFT ), and Nvidia (NASDAQ: NVDA ) in global asset rankings.
With Thursday’s dip, it slipped back to the eighth position, below silver.
Crypto price today: altcoins fall, Dogecoin drops 4%
Altcoins also declined after experiencing a sharp rally in the previous session amid a broader risk-on mood.
World no.2 crypto Ethereum fell 0.8% to $1,774.93.
World no. 3 crypto XRP declined 2.8% to $2.1801.
Solana retreated 1.3%, while Cardano lost 1%, and Polygon fell 0.5%.
Among meme tokens, Dogecoin dropped 4%.