New developments in the trade relations between the US and Mexico have had an unexpected impact on Bitcoin's price, causing it to surge after positive news.
Impact of US Tariffs on the Crypto Market
The consequences of the US tariffs against certain countries continue to affect the cryptocurrency market, but this time in the opposite direction following positive developments on the US-Mexico front.
Recent Bitcoin Price Changes
Bitcoin's price, which had tumbled below $92,000, surged by several thousand dollars in less than an hour, nearly reaching $100,000.
Mexico's Response and Market Impact
This impressive recovery occurred as Mexico's president Claudia Sheinbaum announced an agreement with the US to pause the tariffs for a month. She also stated that Mexico will 'immediately reinforce' its border with the US.
The positive news about the US-Mexico tariff pause has led to a significant surge in Bitcoin's price, highlighting how sensitive the market is to international politics.
