Bitcoin is trading near its 50-week simple moving average (SMA) as China announces a suspension of its 24% additional tariff on U.S. goods for one year, retaining a 10% levy. This development follows a meeting between President Donald Trump and Chinese President Xi Jinping, signaling a potential de-escalation in trade tensions that could reduce global economic uncertainty and support risk-taking in financial markets. Despite this positive backdrop, Bitcoin faces challenges from Sequans Communications' decision to sell its BTC holdings to retire convertible debt, which may exert downward pressure on the cryptocurrency's price.