The cryptocurrency market surged above $ 82,000 today after U.S. President Donald Trump announced a temporary 90-day pause on tariffs for the majority of trading partners, excluding China.
Cryptocurrency market resumed optimism after tariff fears caused tension among investors, reports AFP.
The 90-day tariff reprieve announced by Trump has provided a much-needed lifeline for global markets.
Bitcoin (BTC) rebounded sharply to climb back above $82,000, gained 8.87% over the past 24 hours, triggering over $75 million worth of short liquidations.
The global crypto market capitalisation also rose significantly, reaching $2.59 trillion after an 8.40% increase on the day.
Bitcoin’s recent resilience has impressed even traditional market analysts. Despite a 26% pullback from its January highs, investment firm Bernstein described this correction as “mild,” particularly in comparison to prior downturns that saw losses of 50-70%.
The cryptocurrency’s sustained performance highlights its increasing maturity and the growing support from institutional investors.
Experts now await further cues from the Federal Reserve, particularly from Chair Jerome Powell, regarding potential shifts in interest rate policy or liquidity measures.
Such signals could further bolster investor confidence and sustain bullish momentum across asset classes.
Many trading partners had proactively engaged with U.S. officials to resolve trade disputes and secure exemptions, leading to this temporary pause. Analysts suggest that this window could encourage diplomatic resolutions while reducing tensions.
In contrast, China remains excluded from this concession, continues to face heightened tariffs. Following China’s announcement of retaliatory tariffs on April 9, the Bitcoin options delta skew peaked at 12%, indicating heightened bearish sentiment.
However, Trump’s announcement reversed this trend, with the indicator returning to a neutral 3%.
