Key Takeaways
- Bitcoin surged Wednesday afternoon after US President Donald Trump announced a 90-day pause on tariffs.
- Altcoins followed suit with Ether, Dogecoin, and XRP all gaining over 12%, while Solana led the rally with a 14% spike.
- Crypto-related stocks also soared. MicroStrategy, now rebranded as Strategy surged by 23%. Robinhood climbed 24%, and Coinbase rose nearly 17%.
In a surprise move, U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs on most U.S. trading partners, while maintaining a steep 125% tariff on Chinese imports. The announcement sparked an immediate surge across global financial markets, sending risk assets higher and easing fears of prolonged trade tensions.
Global Financial Markets React Positively
Trump’s decision to ease trade restrictions, albeit temporarily, ignited a wave of optimism in global markets. The S&P 500 skyrocketed by 9.5% in a single day, marking one of its strongest sessions in recent years. Asian markets followed suit, with key indices in Japan, South Korea, and Southeast Asia climbing in response to the improved trade outlook.
Bond markets also responded as investors sought safety amid lingering geopolitical concerns. U.S. Treasury yields fell, signaling sustained demand for lower-risk assets despite the market’s risk-on sentiment.
Crypto Market Sees Short-Term Boost
The cryptocurrency market rallied alongside equities. Bitcoin (BTC) surged over 8%, rebounding from a session low of $75,000 to reach nearly $83,000 before meeting strong resistance. Altcoins also saw significant gains, with Ripple’s XRP jumping more than 13% in a single day, driven by both the broader market sentiment and the recent launch of the XRP leveraged ETF.
Crypto mining stocks rallied as well, with MARA Holdings (MARA) climbing 17%, Cipher Platforms (CIFR) advancing 16.59%, and Riot Platforms (RIOT) gaining 12.77%.
Bitunix Analyst Insights
According to analysts from Bitunix, Trump’s tariff suspension reflects a tactical move aimed at calming global markets after recent volatility.
“This U-turn shows Trump’s sensitivity to global financial dynamics,” analysts noted, suggesting that the temporary tariff relief opens the door for further negotiation and market stabilization.
However, analysts caution that despite the current bullish momentum, the market remains on edge. The continued flow of capital into traditional safe-haven assets like gold and U.S. bonds highlights persistent investor caution amid uncertain geopolitical conditions.
Bitcoin’s Critical Resistance Zone
For Bitcoin, the $83,000 level has emerged as a critical resistance point. Bitunix analysts indicate that BTC’s ability to decisively break above this threshold will determine whether the current rally can sustain in the near term.
Support levels are currently seen in the $78,500–$80,000 range. A break below this zone could open the door for a retest of the $75,000 level, potentially reversing some of the gains from the recent rebound.
End Note
While Trump’s move to ease tariff pressure offers short-term relief and a renewed sense of optimism in global markets, analysts remain watchful. The exclusion of China from the tariff suspension means geopolitical tensions remain a significant risk factor. The coming weeks will be critical in determining whether this policy shift leads to sustainable growth or simply delays further market turmoil.
