Bitcoin Soars Over 7% Amid Broad Market Recovery Following Trump’s Tariff Pause
Published: April 9, 2025, 4:08 PM EDT
In a notable turn of events in the cryptocurrency market, Bitcoin prices surged more than 7% on Wednesday, reaching approximately $82,305.55, following a significant announcement from President Donald Trump. The president revealed via a post on Truth Social that he has authorized a 90-day pause on certain tariffs, igniting a wave of optimism among investors.
Market Uplift
Earlier in the trading session, Bitcoin prices had dipped to around $74,567.02, a troubling sign amidst rising economic pressures. However, the market reaction to Trump’s tariff announcement proved favorable as Bitcoin, alongside other cryptocurrencies, began a swift ascent. This surge was part of a broader rally across the stock market, with the S&P 500 experiencing its most substantial upswing since 2008. The announcement from Trump included a strategic pause on a 10% reciprocal tariff for a period of three months. Despite this temporary relief, he signaled an increase in tariffs on imports from China, raising them to 125%. While some analysts view this as a tactical move to alleviate immediate market stress, others caution that the market’s uncertainty remains unresolved.
Insights from Analysts
Ben Kurland, CEO of the crypto research platform DYOR, commented on the implications of these tariff changes. He stated, "Trump’s 90-day tariff pause is a strategic breather — he’s easing short-term market pressure without giving up leverage." He added that while this move provides a temporary sense of stability for businesses, it is unlikely to prompt significant long-term shifts in supply chain dynamics or investment strategies.
Zach Pandl, head of research at Grayscale Investments, noted that while Bitcoin may continue to mirror movements in the tech stock sector in the short term, long-term investors should prepare their portfolios for a period of sustained dollar weakness and higher inflation, sentiments echoed in historical patterns during significant trade disputes.
Performance of Other Cryptocurrencies and Stocks
The uplift in Bitcoin also inspired notable gains in the broader cryptocurrency market. Ether, dogecoin, and XRP each surged by over 12%, while the Solana token experienced a remarkable increase of more than 14%.
In the stock market, companies closely associated with cryptocurrency saw impressive rises. MicroStrategy, recently rebranded as Strategy, leaped by 23%. Robinhood surged 24%, and cryptocurrency exchange Coinbase saw a notable increase of nearly 17%.
Despite the positive market movement, it is essential to highlight that Bitcoin is still down approximately 12% year-to-date and nearly 25% from its all-time high reached earlier in the year.
Conclusion
The pause on tariffs by President Trump has provided a temporary reprieve to the cryptocurrency market, with Bitcoin’s significant price movement reflecting greater market sentiment. As investors navigate these ongoing economic shifts, the potential for future volatility in both the cryptocurrency and stock markets remains a key consideration. Observers will be monitoring the effects of such policies closely, seeking further clarity on the trade landscape and its long-term impacts on both markets.
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