Bitcoin (BTC) finally saw a convincing price increase again today, even exceeding the $85,000 mark this evening. The increase of over 2.4% within 24 hours is part of a broader recovery in risky assets, possibly fueled by rumors that Donald Trump’s announced import tariffs may be less severe than initially feared.
Other major cryptocurrencies also posted impressive gains. Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) even rose by almost 5% today.
Not only did the crypto market gain significantly, but US stocks also recovered. The Nasdaq recouped earlier losses and is up almost 1% at the time of publication.
Market bets on dovish trade measures
The market recovery comes on the eve of the Trump administration’s so-called “Liberation Day” announcement, which is expected after the US stock market closes Wednesday. According to a report by NBC News, the most feared option—a blanket introduction of 20% import tariffs on all products—appears to be off the table. Instead, a system of tiered or country-specific tariffs is being considered.
Furthermore, the White House appears to be recognizing for the first time the market uncertainty caused by the tariff debate. At her daily press briefing, White House Press Secretary Karoline Leavitt acknowledged that there are “legitimate concerns about market volatility.”
International Reaction to Trade Developments
In Israel, Finance Minister Bezalel Smotrich announced that his country is taking steps to eliminate import tariffs on US products. This decision appears to be a direct response to the changing trade dynamics between the US and its partners.
With the tariff announcement looming, it remains to be seen whether the positive market sentiment will continue or whether new uncertainties will take over. For now, however, investors are hopeful that the economic impact could remain limited.
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