Trump’s Tariff Pause Sparks Market Surge; XRP, ETH Lead Crypto Rally

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After Trump surprised the markets with his unexpected 90 days pause on Tariffs, the crypto market witnessed a huge relief rally after a broader rally in equity markets. Bitcoin rose over 7% as it regained its $80K levels while the broader crypto market followed suit.

XRP and Ether were the top gainers among major crypto tokens with an impressive 12% surge while Cardano, BNB, SOL and DOGE witnessed gains as much as 10%. The overall market cap also rose to 6%. 

Markets Recover Earlier Losses

Crypto futures saw over $350 million in short liquidations, which helped the market recover some losses from earlier this week when Bitcoin dipped to $75,000. Such liquidations can be a buying opportunity which signals that market is now settling back to fair levels. 

This rally comes after Trump paused steeper tariffs on all countries except China which eased global tensions and recession fears. China now faces a 125% tariff rate while other countries return to the 10% rate. 

Biggest Surge In US Stock

Notably, this move triggered the biggest surge in US stock since 2008, with the S&P 500 jumping 9.5% and the Nasdaq rose 12%, lifting markets out of the slump. This move could be a temporary measure to ease the market pressures which provides businesses a short term sense of stability.

Experts believe that markets are rising in expectations of trade deals with the US in an effort to avoid a full-blown trade war. The ongoing US-China tariffs could drastically change the global trade in a big way and the after-effects will unfold in the coming months.