- Bitcoin surged above $80,000 after President Trump announced a 90-day tariff pause for 75 countries, while China's was increased to 125%.
- Ethereum, XRP and SOL have gained more than 10% since the announcement.
- The rally mimics that of the stock market, where the Nasdaq-100 is on track to record its fourth-best trading day in history.
Bitcoin (BTC) and several top cryptocurrencies rallied on Wednesday after President Donald Trump announced the United States (US) would pause its reciprocal tariff on 75 countries following their failure to retaliate and the opening of negotiations with key government agencies.
Bitcoin, crypto and stocks soar following Trump’s tariffs pause
In a Truth Social post on Wednesday, President Trump announced that the US would pause reciprocal tariffs on 75 countries due to their "non-retaliating" stance and negotiations with key government agencies. The announcement comes one week after Trump initially announced reciprocal tariffs on over 180 countries.
"These Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," wrote Trump.
However, the pause didn't get to reach Chinese goods, as Trump declared that the US will raise China's tariff to 125% in response to its 84% tariff on US goods.
"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump added.
Following the announcement, Bitcoin soared above the $80,000 mark, with a daily gain of over 6% at press time.
Other top cryptos also flipped their losses into gains, with Ether (ETH), XRP and Solana (SOL) rallying about 10% on the day.
Top cryptocurrencies. Source: CoinGecko
Several crypto categories also sparked green with meme coins, decentralized finance (DeFi), Real World Assets (RWA) and Artificial Intelligence (AI) categories surging by an average of 7%. Dogecoin (DOGE), HYPE, ONDO, RENDER and PEPE are all up on the daily timeframe by 10%, 25%, 20%, 17% and 15%, respectively.
The rally in crypto mimics that of the global stock market, where major tech stocks, including NVIDIA, Tesla and Apple, saw gains of over 12% after Trump announced the tariff pause. The Nasdaq-100 is up by over 10% on Wednesday — on track to record its largest gains since 2008 and fourth-best trading day in history.
The S&P 500 is also having a field day, gaining more than 8% in the daily timeframe.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP chart signals 27% jump after SEC-Ripple appeals pause and $50 million settlement
Ripple (XRP) stabilized above $2.00 exemplifying a similar pattern to the largest cryptocurrency by market capitalization, Bitcoin (BTC), which holds firmly above $84,000 at the time of writing on Thursday.
Bitwise lists four crypto ETPs on London Stock Exchange
Bitwise announced on Wednesday that it had listed four of its Germany-issued crypto Exchange-Traded products (ETPs) on the London Stock Exchange. It aims to expand access to its products for Bitcoin (BTC) and Ethereum (ETH) investors and widen its footprint across European markets.
RAY sees double-digit gains as Raydium unveils new Pumpfun competitor
RAY surged 10% on Wednesday as Raydium revealed its new meme coin launchpad, LaunchLab, a potential competitor to Pump.fun — which also recently unveiled its decentralized exchange (DEX) PumpSwap.
Ethereum Price Forecast: ETH face value- accrual risks due to data availability roadmap
Ethereum (ETH) declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.