Bitcoin (BTC) surged past $82,000 on April 9 following an announcement by President Donald Trump that his administration would be implementing a 90-day pause on tariffs for most nations. This news sparked a widespread rally in global markets, bringing relief after a turbulent week.
In a post on his social media platform, Truth Social, Trump stated that the tariff freeze was a strategic move aimed at stabilizing global supply chains and preventing a potential recession. While China was excluded from this decision, the overall market sentiment was positive, with traders quickly shifting towards risk-on assets.
According to data from CryptoSlate, Bitcoin was trading at $82,277 at the time of writing, marking a 6.25% increase over the past 24 hours. Ethereum (ETH) also saw a significant rise of 10% to reach $1,639, while other large-cap tokens like Solana (SOL) and XRP experienced similar gains in response to the news.
The broader financial markets reflected this optimism, with over $2 trillion flowing back into equities and traditional risk markets within minutes of the announcement. The S&P 500 was up 7.92%, the Dow Jones Industrial Average rose over 6.69%, and the Nasdaq outperformed with a 9.74% increase. The Invesco QQQ Trust (QQQ) also climbed 9.41%.
This rally marked a stark contrast to the volatility seen in the previous week, when a false report about tariff delays briefly surged the markets before officials clarified that there had been no policy change. The renewed investor confidence and increased institutional buying were cited as factors contributing to Bitcoin’s swift climb past $80,000, after trading in a narrow range near $76,000 earlier in the week.
As both crypto and equity markets continue to navigate ongoing volatility, they are expected to remain sensitive to further policy announcements leading up to the next Federal Reserve meeting.
In terms of market data, at the time of writing, Bitcoin holds the top spot by market cap, with a price increase of 6.52% over the past 24 hours. Its market capitalization stands at $1.63 trillion, with a 24-hour trading volume of $71.9 billion. The total crypto market is valued at $2.62 trillion, with a 24-hour volume of $161.05 billion and Bitcoin dominance at 62.38%.
Overall, the positive market response to Trump’s tariff pause underscores the interconnected nature of global markets and the impact of geopolitical decisions on asset prices. Investors will be closely monitoring further developments as they position themselves for potential market shifts in the coming days.