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As US-China Tensions Rise, Trump's "90 Days" Statement Sends Bitcoin Soaring! - Coin Bulletin
The decision of U.S. President Donald Trump to suspend tariffs on countries outside of China for 90 days has caused Bitcoin (BTC) price to rapidly rise to the level of $83,600.
The cryptocurrency market is experiencing lively hours. Trump announced on the Truth Social platform that he has suspended tariffs for 90 days on countries other than China and during this period, he has reduced reciprocal tariffs to 10 percent. However, the tariffs applied to China have been immediately increased to 125 percent. Following these developments, a festive atmosphere has emerged in the markets.
Before Trump's announcement, Bitcoin (BTC), which was hovering around 77 thousand dollars, experienced a rapid increase of approximately 8.5 percent with the news, rising to the level of 83,600 dollars. Ethereum (ETH) also rose by 8 percent to reach 1,600 dollars, while popular altcoins such as XRP, Solana (SOL), Avalanche (AVAX), Chainlink (LINK), and Hedera (HBAR) gained over 10 percent in value.
What is the reason for the rise in Bitcoin?
According to analysts, Trump's sudden change in tariffs has led to a short-term relief in global markets. Investors, particularly those tired of the uncertainty created by the ongoing trade tensions between the US and China, welcomed this decision positively. As a result of the decision, not only did the cryptocurrency markets rise, but US stock markets also saw a rapid increase. The Nasdaq index rose by 7%, while the S&P 500 recorded an increase of 8.8%.
Experts are cautious about whether this positive atmosphere in the markets will be permanent. While Trump's move may support the markets in the short term, there is a possibility that tariffs may rise again in the coming days. However, for now, investors are enjoying the rise that Bitcoin has achieved in a short period.