Following President Trump’s announcement of a 90-day tariff pause, the crypto market experienced a significant surge in price. This move has particularly impacted Bitcoin, which saw its price break past $81,000 and jump 5% within hours. Other altcoins like Ethereum, XRP, Solana, Cardano, and Dogecoin also witnessed notable gains of 9-10%. The announcement is attributed to reducing market uncertainty, as tariffs have historically been a cause for concern in the global economy. 📈
The impact of this pause was immediate, with over $75 million worth of Bitcoin short positions being liquidated within an hour. This surge comes after a period of significant volatility and price declines. 🚀
This positive development may signify a turning point for the crypto market as investors are now more inclined to invest in assets like Bitcoin during periods of economic stability.