Global markets ignited on Wednesday when U.S. President Donald Trump declared a 90-day tariff halt for over 75 countries, sparing China. This sudden policy twist fueled a massive rally across stocks and cryptocurrencies. Bitcoin (BTC) leaped nearly 10%, hitting $82,390, and notched one of its fiercest daily climbs in recent months.
Bitcoin Charges Out of a Rough Patch
After a week of trade war panic, Bitcoin stormed back with gusto. CoinMarketCap data reveals BTC soaring 9.85% in just 24 hours, thanks to a rush of buy orders sparked by Trump’s tariff update. Trading volumes skyrocketed 67.25% to over $83 billion, reflecting a surge in trader confidence.
Right now, Bitcoin sits strong near $82,070, clawing back from a $74,000 low—its weakest mark since November. The price boom also hammered short sellers. Coinglass stats show Trump’s Truth Social post wiped out over $75 million in Bitcoin short positions in a single hour.
Trump Rolls Out a Two-Pronged Tariff Move
On Wednesday, Trump shook up markets with a bold Truth Social announcement:
- He slapped a 125% tariff hike on Chinese goods, slamming their “disrespect” for trade norms.
- He eased pressure elsewhere, pausing tariffs for over 75 countries and cutting reciprocal rates to 10% for 90 days.
Trump proclaimed:
“China mocks global markets. I’m jacking up their tariff to 125%, effective today. For others, I’m hitting pause for 90 days while we talk.”
This one-two punch calmed immediate fears while keeping trade leverage intact.
Markets Surge in Sync
The rally rippled everywhere:
- The S&P 500 vaulted over 6%, its best day since 2008.
- Nasdaq, Dow Jones, and Russell 2000 each spiked above 5%.
Altcoins rode the wave with big gains:
- Ethereum (ETH) popped 7.1% to $1,633.
- Solana (SOL) blasted 14.3% to $115.
- XRP jumped 12.6%, hovering near $2.
The crypto market cap crossed $2.6 trillion, powered by an 8% leap in the GMCI 30 index. Crypto-linked stocks also cashed in:
- MicroStrategy (aka Strategy) soared 23%.
- Coinbase climbed 17%.
- Robinhood rocketed 24%.
Experts Decode the Tariff Twist
Analysts see layers in Trump’s play. Ben Kurland, CEO of crypto firm DYOR, explained:
“Trump’s 90-day break cools things down. He keeps his bargaining chip without rocking the boat too hard. It’s a short-term lift, not a game-changer for supply chains.”
Grayscale’s Research Head Zach Pandl added a wider lens:
“Bitcoin might tag along with stocks now. Over time, expect dollar dips and inflation from trade tussles.”
Caution: Bumps Still Ahead
Bitcoin’s rebound from sub-$75,000 lows looks promising, but experts flag risks. Days ago, fake tariff buzz sent the S&P 500 up 8%, only to tumble 3.5% in a flash. These jolts highlight markets’ twitchy reliance on news, especially with crypto’s internal engines running low.
Big Data Drops on Deck
Investors now lock eyes on key economic signals:
- FOMC Meeting Minutes: Peeks into Fed rate moves.
- U.S. Consumer Price Index (CPI): Inflation’s pulse.
- Producer Price Index (PPI): Cost trends upstream.
Due April 9–11, these numbers could sway rate forecasts and flows into assets like crypto.
Bitcoin’s Next Move
Trump’s tariff breather pumped fresh energy into markets, especially crypto. Bitcoin’s sprint past $82,000 shows traders diving back in. Still, deeper economic and global tensions linger.
Keep watch, dodge snap decisions, and track U.S. data to see if this surge sticks—or fizzles.