Bitcoin Briefly Breaks $80,000 as Tariff Rumors Surge and Fade

A brief surge in Bitcoin’s price to above $80,000 was sparked by rumors of a potential 90-day tariff pause on trade disputes with China. However, the rally faded quickly after the White House denied such a plan. The market saw its initial jump followed by sharp declines following Trump’s threat of imposing higher tariffs if China does not reverse their retaliatory measures. This chaotic week for global markets has seen Bitcoin experience significant volatility.