Crypto Market Surge: Trump's Tariff Pause & Market Reaction
Crypto Market Soars After Trump's Tariff Announcement
The cryptocurrency market experienced a significant upward swing following a major policy announcement by U.S. President Donald Trump. He declared a 90-day pause on the ongoing tariff war, coupled with a substantial reduction in reciprocal tariffs. This decision triggered a positive and sharp reaction across the crypto market.
Source: X
Why Did Crypto Prices Rise?
President Trump's announcement on X (formerly Twitter) stated:
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!”
This announcement led to a surge not only in the cryptocurrency market but also in the wider financial markets. Many struggling investors found some relief.
Further fueling the market's reaction, Trump subsequently tweeted:
“THIS IS A GREAT TIME TO BUY!!! DJT.”
However, this statement, released *before* the official tariff pause announcement, raised concerns about potential insider trading. Senator Adam Schiff voiced these concerns on X.
Source: X (Formerly Twitter)
Significant Price Increases Across Crypto Assets
Despite the controversy, the crypto market showed strong upward momentum. Major cryptocurrencies experienced impressive price surges:
- Bitcoin (BTC): Soared from $76,000 to $82,000.
- Ethereum (ETH): Skyrocketed by 16%, reclaiming the $1,680 level.
- XRP: Gained over 15%.
- Solana (SOL): Gained over 15%.
- Dogecoin (DOGE): Increased by 9%.
- Shiba Inu (SHIB): Increased by 13%.
- Pepe (PEPE): Increased by 8.5%.
- Bonk (BONK): Increased by 11%.
- Fartcoin (FARTCOIN): Increased by 37%.
- Trump (TRUMP): Increased by 7%.
Distance from All-Time Highs
It's important to note that despite this rally, many major cryptocurrencies remain significantly below their all-time highs. For example, XRP is still down over 45% from its peak, SOL is down over 65%, and DOGE is down over 80% from its 2021 peak.
This event underscores how impactful single news events can be on market sentiment and overall market structure. For secure and reliable blockchain development and security services, consider Codeum. We offer smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies.