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Bitcoin Jumps 6% to $81K as Crypto Prices Surge on Trump's Tariff Pause
President Trump said he authorized a 90-day pause on tariffs on countries that haven't retaliated against the U.S.
Updated Apr 10, 2025, 6:07 p.m. Published Apr 9, 2025, 5:56 p.m.
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What to know:
- Cryptocurrencies surged after President Donald Trump announced a 90-day pause on tariffs for countries that haven't retaliated against the U.S.
- Trump also raised tariffs on China to 125%, while reducing reciprocal tariffs on other countries to 10% during the delay period, according to Trump's social media post.
- Bitcoin rose above $81,000, and major altcoins, including XRP and Solana's SOL, posted over 10% gains.
Cryptocurrencies jumped on Wednesday on news that Donald Trump stepped back some tariff burdens on countries — except for China.
According to Trump's post on Truth Social, he issued a 90-day delay on tariffs and a substantially lowered 10% rate of reciprocal tariff for this period against all countries except China. Meanwhile, he said he raised tariffs for China to 125%, "effective immediately."
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Bitcoin , treading water around $77,000 during most of the U.S. session, surged above $81,000 on the news, up 5.5% over the past 24 hours.
Altcoin majors rallied even more, with XRP, Solana's SOL, Avalanche's AVAX, Chainlink's LINK, Hedera's HBAR and SUI posting over 10% gains in the broad-market CoinDesk 20 Index. Ethereum's ETH rallied to $1,600, up 8% during the same period.
U.S. stocks also reacted positively, with the Nasdaq and the tech-heavy S&P 500 indexes up 7% and 8.8% through the day's session.
Earlier Wednesday, Trump had posted that it was "a great time to buy."
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