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BTC crosses the $80,000 barrier after US President Donald Trump announced a 90-day pause on tariffs for several nations, excluding China, and temporarily reduced reciprocal tariffs to 10%.
Donald Trump’s tariff break has given investors confidence, and the US SEC’s confirmation of Paul Atkins and approval for Ethereum ETFs options trading have provided the critical credibility to the cryptocurrency ecosystem, says an expert.
Bitcoin, the world’s biggest cryptocurrency, on Thursday surged over 7 per cent to cross the $82,000 mark in a broader rally across equity, bullion and crypto markets amid renewed investor confidence following Donald Trump’s 90-day pause on US ‘reciprocal tariffs’. Bitcoin surged 7.11%, Ethereum jumped 9.5%, BNB rose 4.96%, XRP skyrocketed 9.8%, and Solana was up by 9.6%.
According to Binance, as of 1215 IST, the price of Bitcoin stood at $82,267.15 with a current market cap of $1.62 trillion. A 24-hour trading volume was $76.91 billion. Bitcoin was up 7.11% in the last 24-hours with a circulating supply of 19.85 million.
“BTC crossed the $80,000 barrier after US President Donald Trump announced a 90-day pause on tariffs for several nations, excluding China, and temporarily reduced reciprocal tariffs to 10%,” according to CoinSwitch Markets Desk.
The crypto rally comes days after the cryptocurrency market witnessed a global market crash on Monday during which Bitcoin and Ethereum cracked by up to 14 per cent.
Despite easing tensions elsewhere, the trade war between the US and China intensified, as the US increased tariffs on Chinese imports to 125 per cent. Meanwhile, the S&P 500 posted its largest single-day gain since 2008, jumping 9.5 per cent. The Nasdaq Composite soared 12 per cent, while the Dow Jones Industrial Average rose 7.9 per cent, it added.
Avinash Shekhar, co-founder & CEO of Pi42, said, “Bitcoin, Ethereum, and Dogecoin are experiencing a bullish rally, triggered by some encouraging news. Trump’s tariff break has given investors confidence, and the US SEC’s confirmation of Paul Atkins and approval for Ethereum ETFs options trading have provided the critical credibility to the cryptocurrency ecosystem. Bitcoin has gone beyond the $80,000 level, evidencing the upbeat mood in the market.”
Ethereum is rising steadily, buoyed by higher open interest on Binance and increasing institutional sentiment. Dogecoin meanwhile exhibits signs of Wyckoff accumulation, suggesting room for further price appreciation.
Has Crypto Market Resumed Its Upside Run?
With regulatory clarity continuing to improve and macroeconomic conditions stabilising, the momentum among top cryptocurrencies implies that we might be witnessing a new era of mainstream adoption and long-term appreciation in the digital asset universe, Shekhar added.
