Bitcoin price jumps amid market relief; Altcoins follow with double-digit gains
The Bitcoin price soared more than 7% on Wednesday, leading a broader crypto market rally, after Donald Trump announced a 90-day pause on tariffs. The flagship cryptocurrency climbed to $82,305.55, according to Coin Metrics, after dipping as low as $74,567.02 earlier in the day.
This sharp rebound followed Trump’s announcement on Truth Social, where he revealed a temporary halt on tariffs, along with a reduced 10% reciprocal tariff, effective immediately. He also noted plans to increase tariffs on China to 125% in the future.
Crypto Market Gains Momentum
Bitcoin wasn’t alone in its rise. Several other major cryptocurrencies also rallied:
- Ethereum (ETH) jumped over 12%
- Dogecoin (DOGE) surged more than 12%
- XRP posted a gain of 12%
- Solana (SOL) soared over 14%
Meanwhile, stocks with heavy exposure to the crypto sector saw a significant boost:
- MicroStrategy, recently rebranded as Strategy, gained 23%
- Robinhood shares climbed 24%
- Coinbase, a leading crypto exchange, jumped nearly 17%
Why Did Bitcoin Surge?
This sudden spike in Bitcoin’s value is seen as a market relief reaction to Trump’s trade policy update. Analysts say the tariff pause provided a momentary sense of stability to investors who were concerned about escalating trade tensions.
“Trump’s 90-day tariff pause is a strategic breather,” said Ben Kurland, CEO of crypto research firm DYOR. “He’s easing short-term pressure without giving up leverage. It reassures investors but doesn’t change long-term uncertainty.”
Bitcoin Follows the Stock Market
Bitcoin’s price action closely followed the movement of the S&P 500, which saw its biggest rally since 2008. The 10-year U.S. Treasury yield briefly rose above 4.51% before pulling back, adding to market volatility earlier in the day.
Although Bitcoin has typically shown lower intraday volatility compared to traditional equities, it has been moving in sync with tech stocks in recent sessions. This behavior reflects investor focus on macro trends like U.S. trade policies and interest rates, rather than crypto-specific developments.
Bitcoin Price Range and Long-Term Outlook
Bitcoin has mostly traded between $80,000 and $90,000 throughout the year. The recent dip below $80K was brief, with analysts suggesting that such corrections are healthy and expected in a volatile asset class.
Despite the current upswing, Bitcoin is still down about 12% year-to-date, and nearly 25% below its all-time high.
According to Zach Pandl, head of research at Grayscale Investments, crypto investors should take a long-term view.
“Portfolios should be positioned for sustained dollar weakness and above-target inflation — typical of how U.S. trade frictions play out historically,” Pandl told CNBC.
Key Takeaways
- Bitcoin jumps over 7% to $82,305 after Trump’s 90-day tariff pause
- Altcoins like Ethereum, Dogecoin, and Solana gain more than 12%
- Crypto stocks such as Coinbase and MicroStrategy rally strongly
- Investors see temporary relief, but long-term uncertainty remains
- Bitcoin remains volatile but holds a strong technical range above $80K
What’s Next for Bitcoin and the Crypto Market?
With market conditions still uncertain and no major crypto-specific catalysts in sight, Bitcoin is expected to follow macroeconomic signals like U.S. trade policies and inflation trends.
While short-term volatility may persist, seasoned investors are advised to focus on long-term fundamentals and remain cautious amid potential policy shifts.
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