The world’s largest cryptocurrency by market value touched an intraday high of $83,541, buoyed by the unexpected rollback of tariffs less than 24 hours after they were introduced. However, the White House clarified that a 10% blanket duty on nearly all imports would remain in effect.
At the same time, tariffs on Chinese imports were raised to 125%, following Beijing’s move to impose an 84% levy on U.S. goods.
Crypto Tracker
As of 9:50 AM IST, Bitcoin was trading at $81,740, up 8.1% over the past 24 hours. Ethereum also rallied 12.6% to $1,613, while the global cryptocurrency market capitalisation rose 8.3% to $2.59 trillion.“The crypto market saw a strong rebound after Trump announced a 90-day pause on reciprocal tariffs, easing investor sentiment,” said Alankar Saxena, Co-founder and CTO of Mudrex.
Saxena noted that regulatory developments added to the positive momentum. “The U.S. Senate confirming Paul Atkins as the new SEC Chair and the approval of options on spot Ethereum ETFs have broadened Ether’s investment appeal, especially among institutions. If this momentum continues, BTC’s rally to $100,000 is back on the table, with the next major resistance at $88,600 and support at $80,000,” he added.Avinash Shekhar, Co-founder and CEO of Pi42, said, “Trump’s tariff break has given investors confidence, and the SEC’s confirmation of Paul Atkins and approval for Ethereum ETF options trading have added critical credibility to the crypto ecosystem. With regulatory clarity improving and macroeconomic conditions stabilizing, we might be entering a new era of mainstream adoption and long-term appreciation in digital assets.”Despite the strong performance, some experts remained cautious. “While spot prices have rallied sharply, derivative indicators suggest that traders are still hesitant. Bitcoin is likely to consolidate around the current zone before attempting a move towards the next key level at $88,000,” said Vikram Subburaj, CEO of Giottus.
Market sentiment has improved significantly, with the Crypto Fear & Greed Index climbing from ‘Extreme Fear’ (18) to ‘Fear’ (39)
Also Read: Regulation or revolution? What Trump’s bitcoin move means for Indian policy
Among major altcoins, XRP rose 12.7%, Solana gained 11%, BNB advanced 5.6%, Cardano rallied 11%, while Tron, Dogecoin, Chainlink, Avalanche, Stellar, Sui, Hedera, and Shiba Inu rose between 5% and 14%.
Bitcoin’s market cap rose to $1.621 trillion, increasing its dominance in the overall crypto market to 62.58%. Daily trading volume jumped 49% to $78.76 billion. Stablecoins accounted for 94.72% of the total crypto market volume, reaching Rs 158.63 billion, according to data from CoinMarketCap.
Also Read: What lies ahead for Altcoins: Looking at the future of diversified portfolios
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
