Bitcoin maintained its position near $111,000 on Thursday afternoon in Hong Kong, following a period of volatility spurred by China's trade measures against the U.S. The overall cryptocurrency market showed caution, with total capitalization stable at approximately $3.8 trillion. Key cryptocurrencies like Ether, BNB, and Solana traded at $4,000, $1,180, and above $190, respectively, while Dogecoin saw a 4% daily and 21% weekly increase. Analysts described the recent market pullback as controlled deleveraging rather than panic selling, with CryptoQuant indicating the decline was not a sell-off. Meanwhile, Ethereum developers progressed with the Fusaka upgrade testing, and Bhutan announced plans to transition its national digital ID system to Ethereum by 2026. Institutional and ETF inflows continue to bolster Bitcoin and Ethereum, despite macroeconomic influences such as Trump's tariff rhetoric and Powell's comments.