- Cryptocurrency prices surged after President Trump paused new tariffs on over 75 countries, with Bitcoin climbing above $80,000.
- Trump authorized a 90-day pause and reduced reciprocal tariffs to 10% for countries that haven’t retaliated against the U.S.
- Crypto-related stocks also rose alongside the broader market following Trump’s tariff announcement.
Cryptocurrency markets rallied Wednesday (April 9) after President Donald Trump announced a pause on recently imposed tariffs affecting more than 75 nations. According to Seeking Alpha, Bitcoin’s value jumped 7.6% over a 24-hour period, pushing the leading cryptocurrency back above the $80,000 threshold by mid-afternoon Eastern Time.
Several alternative cryptocurrencies posted even stronger gains, with tokens including ondo, Hedera hashgraph, Sui, pepe, ChainLink and Avalanche seeing price increases between 14% and 23% by late afternoon. The market response came directly after Trump’s announcement regarding international trade policies.
Crypto Stocks Rise Alongside Digital Assets
The rally extended beyond digital currencies to crypto-related equities, which moved upward with the broader market. Notable gainers included cryptocurrency exchange Coinbase Global, corporate bitcoin investor Strategy, asset manager Galaxy Digital, and six bitcoin mining companies, as reported by Seeking Alpha.
Trump made his announcement via a post on Truth Social, declaring a 90-day pause on tariffs for 75 countries that have reached out to U.S. representatives to negotiate trade solutions. For these nations that haven’t “retaliated in any way, shape or form against the United States,” Trump reduced reciprocal tariffs to 10%, effective immediately. Simultaneously, he increased tariffs on China to 125% following retaliatory measures from that country.
Relief After Tariff-Driven Market Pressure
The upturn marks a reversal from earlier market conditions. On Monday (April 7), it was reported that cryptocurrency prices had declined amid what was described as a “tariff-driven pullback,” as Trump maintained his position on widespread tariffs that had already erased trillions in U.S. equity values.
Prior to the tariff announcements, digital assets had experienced substantial growth following Trump’s election victory, with Bitcoin reaching record prices on his inauguration day. The pro-crypto stance of the current administration initially fueled market optimism before the tariff concerns temporarily dampened enthusiasm.
When cryptocurrency stocks declined on Thursday (April 3), investors reportedly shifted away from riskier assets due to economic uncertainty caused by the White House tariff policies. Despite these fluctuations, some analysts noted that the cryptocurrency sector experienced less dramatic price drops compared to other industries, potentially indicating stronger underlying support for digital assets.
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