- Crypto stocks surged after Trump announced a 90-day pause on global tariffs, with Strategy up 24.76% and Coinbase up 17%.
- The S&P 500 closed 9.52% higher, marking its third-largest single-day gain since World War II.
- Bitcoin rose 7.52% to $82,065 as Asian markets also showed significant gains following Trump’s tariff policy adjustment.
Cryptocurrency-related stocks rallied sharply on April 9 as part of a broader U.S. market recovery following President Donald Trump‘s announcement of a 90-day pause on sweeping global tariffs. Michael Saylor’s Strategy (formerly MicroStrategy) jumped 24.76% to $296.86, while crypto exchange Coinbase (COIN) climbed 17% to $177.09, according to Google Finance data.
Crypto mining companies also posted substantial gains during Wednesday’s trading session. MARA Holdings (MARA) rose 17%, Cipher Platforms (CIFR) increased 16.59%, and Riot Platforms (RIOT) gained 12.77%.
Most of these gains occurred in the final three hours of trading after Trump posted on his social media platform, Truth Social. In his announcement, Trump stated he would pause his “reciprocal tariffs” for 90 days and reduce the tariff rate to 10% for all countries except China, which saw an increase to 125% due to counter-tariffs against the U.S.
The impact extended well beyond crypto stocks. The S&P 500 closed 9.52% higher, recording its third-largest single-day gain since World War II, according to reports. The Nasdaq 100 posted an even more impressive 12.02% gain for the day.
Global Markets Respond Positively
The positive sentiment spread to Asia Pacific markets as trading began on Thursday, April 10. Australia‘s ASX 200 index rose 4.55%, while Japan‘s Nikkei 225 opened nearly 10% higher.
This market recovery comes after significant volatility triggered by Trump’s tariff announcements. On April 4, the U.S. stock market lost $3.25 trillion – about $570 billion more than the entire cryptocurrency market’s current $2.68 trillion valuation. This steep decline followed Trump’s executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports.
Bitcoin Joins the Recovery
Bitcoin (BTC) also experienced substantial gains amid the market recovery. The leading cryptocurrency traded at $82,065 as of publication time, representing a 7.52% increase over the previous 24 hours, according to CoinMarketCap data.
The recent market volatility had previously pushed Bitcoin below the $100,000 threshold following Trump’s initial tariff announcements in early February, with further pressure coming from his major escalation in early April.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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