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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Trump’s Tariff Pause Sparks Market Surge; XRP, ETH Lead Crypto Rally

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Crypto News Today China Tariff, Trmp News, Bitcoin Price,XRP ETF News And More

The post Trump’s Tariff Pause Sparks Market Surge; XRP, ETH Lead Crypto Rally appeared first on Coinpedia Fintech News

After Trump surprised the markets with his unexpected 90 days pause on Tariffs, the crypto market witnessed a huge relief rally after a broader rally in equity markets. Bitcoin rose over 7% as it regained its $80K levels while the broader crypto market followed suit.

XRP and Ether were the top gainers among major crypto tokens with an impressive 12% surge while Cardano, BNB, SOL and DOGE witnessed gains as much as 10%. The overall market cap also rose to 6%. 

Markets Recover Earlier Losses

Crypto futures saw over $350 million in short liquidations, which helped the market recover some losses from earlier this week when Bitcoin dipped to $75,000. Such liquidations can be a buying opportunity which signals that market is now settling back to fair levels. 

This rally comes after Trump paused steeper tariffs on all countries except China which eased global tensions and recession fears. In a Truth Social post, Trump declared that he had “authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” Besides the tariff on China would rise to 125% once the pause ends.

Notably, Treasury Secretary Scott Bessent claimed that the tariff pause was always part of the strategy to push the countries into negotitations. But Trump changed his stance just a day after new tariffs hit, as markets crashed wiping out trillions in value and U.S. bond yields spiked, which might have prompted this.

Biggest Surge In US Stock

Notably, this move triggered the biggest surge in US stock since 2008, with the S&P 500 jumping 9.5% and the Nasdaq rose 12%, lifting markets out of the slump. This move could be a temporary measure to ease the market pressures without giving up leverage, which provides businesses a short term sense of stability.

Experts believe that markets are rising in expectations of trade deals with the US in an effort to avoid a full-blown trade war. The ongoing US-China tariffs could drastically change the global trade in a big way and the after-effects will unfold in the coming months. 

Negotiations Bring Some Hope

Notably, Jupiter Zheng of HashKey Capital believes the market may have hit a local bottom. The recent upswing might be fueled by the optimism that the worst has already passed. While risks like China’s potential retaliation to Trump’s 125% tariffs still loom, the negotiations with other countries bring some hope.

Besides, he also pointed towards the favourable US crypto regulations signalling that Bitcoin and other cryptos might have already hit their lows. Market may not have fully priced in these positive developments which suggests that there could still be room for growth, unless no shocks emerge.

How did trump’s sudden move affect the overall crypto market?

The news led to a 7% surge in Bitcoin back to $82K and lifted the entire crypto market. Coins like ETH, ADA, BNB, and SOL gained around 10%, and total crypto market cap rose by 6%.

What exactly did Trump announce about tariffs?

Trump announced a 90-day pause on steep tariffs for all countries except China. During this time, a reduced reciprocal tariff rate of 10% would apply. However, after the pause, China’s tariffs would rise to 125%, signaling continued pressure.

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