Bitcoin Focuses on Trump Tariff War: China and the United States will hold a new round of trade negotiations, consulting based on the principle of "cooperation and win-win."

After Bitcoin (BTC) set a historic high of $123,000 last week, the price has entered a consolidation and correction phase, currently reported at around $117,588 during the Asian afternoon session today (24th). The Chinese Ministry of Commerce announced on Wednesday that Vice Premier He Lifeng will visit Sweden from July 27 to 30 to hold a new round of economic and trade consultations with U.S. officials.

According to Reuters, the Chinese Ministry of Commerce stated in a statement that both sides will continue consultations based on the principles of "mutual respect, peaceful coexistence, and win-win cooperation."

U.S. Treasury Secretary Scott Bessent stated on Tuesday that he will meet with Chinese officials in Stockholm to discuss extending the deadline for trade agreement negotiations, while also saying that trade with China is "in good shape."

China must reach a lasting agreement with the White House before the deadline of August 12, or it will face the risk of the United States raising tariffs.

Since mid-May, Besant has met with He Chaoqiong twice in Geneva and London, with both parties committed to refining a delicate trade truce agreement to reduce the triple-digit tariffs imposed after several rounds of escalating tensions.

Ahead of next week's Stockholm talks, China has been sending signals of reconciliation.

On Tuesday, China's market regulatory authority announced that it has suspended the antitrust investigation against DuPont China Holdings, a subsidiary of the American company DuPont.

U.S. President Trump initiated this investigation after imposing a 34% tariff on Chinese products in April of this year.

China's Minister of Commerce Wang Wentao stated last week that China hopes to restore stability in its trade relations with the United States, adding that the two rounds of negotiations recently held in Europe indicate that there is no need for a tariff war.

Bitcoin traffic pulse shows sluggish trading activity

According to the article by contributor Arab Chain on CryptoQuant Quicktake, the Inter-Exchange Flow Pulse (IFP) indicator for Bitcoin is expected to exhibit "interesting behavior" in mid-2025. Notably, despite Bitcoin's trading price reaching an all-time high, large investors do not seem to be selling their held Bitcoins.

Typically, experienced investors will start taking profits when assets approach historical highs. However, this time this behavior seems to be virtually absent.

The lack of sell-off activity contrasts sharply with the market peaks of 2017 and 2021. During both of these peaks, there was a significant influx of BTC into exchanges, followed by a substantial price pullback.

Arab Chain shared the following chart, highlighting the relationship between the rise of IFP and the price trend of Bitcoin. This chart shows how the price experienced a pullback after the IFP levels rose at the end of 2017 and in 2021. In 2025, despite a surge in IFP at the beginning of the year, the BTC market subsequently showed consolidation rather than a retracement.

In terms of background, the IFP indicator tracks the transfer volume of Bitcoin between centralized exchanges, thereby gaining insights into investor sentiment and market conditions. An increase in IFP typically indicates a heightened willingness to sell or arbitrage, while a decrease in IFP suggests reduced exchange activity and increased holder confidence.

This year's dynamics between IFP and BTC prices indicate that even with prices hovering near historical highs, investors still choose to hold Bitcoin.

Arab Chain pointed out that this behavior reinforces the bullish perspective. They stated: "This behavior indicates that investors are confident in the upward trend so far, and partially explains why prices continue to rise without any obvious selling pressure. On the other hand, if the Bitcoin IFP indicator starts to rise, it indicates that investors are willing to sell and expect to face significant supply pressure. Therefore, a sudden rise in this indicator is a strong warning signal for speculators."

(Source: CryptoQuant)

Bitcoin miners take profit

Despite large investors generally keeping a low profile in their sell-offs, Bitcoin miners seem to be profiting from the current surge. On July 15, the number of Bitcoins flowing out from miners soared to 16,000, marking the highest single-day level since April 7.

With the increasing selling pressure, CryptoQuant writer Chairman Lee's recent analysis emphasizes that BTC must hold the key support level in order to continue moving towards the year-end target of $180,000.

(Source: Trading View)