The cryptocurrency and financial markets felt a positive impact following Donald Trump's announcement of a 90-day tariff pause for most nations. This decision significantly influenced the rise in cryptocurrency prices.
Market Reaction to Tariff Pause
After an extended period of decline, the crypto market experienced a rise on April 9, when Trump announced a 90-day tariff pause. This decision sparked optimism among investors, leading to a 5% increase in Bitcoin and an 8% increase in Ethereum.
Cryptocurrency State Amid Trade Wars
Despite tensions in trade relations between the US and China, the crypto market showed resilience. Trump imposed new tariffs on Chinese goods, which resulted in an immediate rally in markets, including a rise in shares of crypto-associated companies like Riot Platforms and Marathon Digital.
Future of Cryptocurrency in Economic Uncertainty
According to CoinMarketCap, the crypto market capitalization surged to $2.6 trillion, marking a 6.07% rise within 24 hours. Despite growing trade wars and uncertainties, experts, including the CEO of Binance, emphasize that Bitcoin may emerge stronger amid economic challenges.
The crypto market demonstrates its resilience even amid economic pressure and trade conflicts, reaffirming its significance for investors.
