Bitcoin saw a remarkable surge of over 7%, reaching $82,350.37, after Donald Trump announced a surprising 90-day pause on tariffs. This news not only boosted Bitcoin’s price but also positively impacted the entire cryptocurrency Market, with Ethereum, Dogecoin, and XRP all rising by more than 12%. Earlier, Bitcoin had dipped below $75,000 due to rising Treasury yields, but the tariff pause quickly reversed this trend. Trump’s announcement coincided with a significant rally in the stock Market, calming investor nerves and providing temporary stability. Experts suggest that while Bitcoin’s recent rally is promising, long-term uncertainties remain, with Market fluctuations expected as global trade tensions evolve.
Bitcoin’s Surge After Trump’s Tariff Announcement
Bitcoin made headlines on Wednesday afternoon, surging by over 7% to reach a price of $82,350.37. This rally followed a surprising announcement from U.S. President Donald Trump, who declared a 90-day pause on tariffs, giving the Market a much-needed boost. The news not only helped Bitcoin but also positively impacted the broader cryptocurrency Market.
Earlier that day, Bitcoin’s price had dipped to $74,567.02 due to a brief rise in the U.S. 10-year Treasury yield, which exceeded 4.51%. However, the announcement from Trump turned things around, leading to a rapid increase in Bitcoin’s value. Ethereum, Dogecoin, and XRP also saw significant gains, climbing over 12%, while Solana’s token surged by an impressive 14%.
Stocks associated with Bitcoin also experienced a rise. MicroStrategy, known for its substantial Bitcoin holdings, saw a 25% jump, Robinhood gained 23%, and Coinbase’s stock climbed by 20%. Trump’s announcement coincided with one of the Dow Jones Industrial Average’s largest rallies in five years.
In a post on his social media platform, Trump stated, “I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%.” He also hinted that the tariff on China would escalate to 125% after the pause.
Experts viewed Trump’s move as a temporary measure to ease Market tensions without relinquishing leverage. Ben Kurland, CEO of the crypto research platform DYOR, described it as a “strategic breather” for investors.
Despite Bitcoin’s recent fluctuations, including being down around 12% year-to-date, the current rally suggests a potential rebound. As many await more clarity surrounding future tariff implications, the cryptocurrency Market remains poised for further action.
Tags: Bitcoin, Cryptocurrency, Donald Trump, Tariff Pause, Market Surge
What caused Bitcoin to go up by 7%?
Bitcoin surged by 7% mainly because Trump announced a surprise pause on his new 90-day tariffs. This news made investors more optimistic about the Market.
How did the crypto Market react to this news?
The entire crypto Market followed Bitcoin’s lead and saw positive movement. Many other cryptocurrencies gained value as well, thanks to renewed investor confidence.
What are tariffs and how do they affect Bitcoin?
Tariffs are taxes on goods imported from other countries. When tariffs are paused, it can ease trade tensions, making investors feel safer. This can lead to more investment in assets like Bitcoin.
Is this rise in Bitcoin price expected to last?
It’s hard to say. While the news has made many people excited, prices in the crypto Market can be very volatile. They can go up or down quickly, depending on many factors.
Should I invest in Bitcoin now?
Investing in Bitcoin can be risky. It’s important to do your own research and consider your financial situation. Keeping an eye on the Market and news can help you make informed decisions.