Bitcoin Surges on Trump Tariff Waiver Announcement

This article is machine translated
Show original

Trump "Decides to Extend Tariff Deadline by 90 Days After Dialogue" Announcement
"Only Applying Basic Tariff Rate of 10%... Will Soon Start Dialogue with China"
US Three Major Stock Markets See Unprecedented Rise... Coins Also Surge in Morning
BTC Maintains $82,000... Multiple Altcoins Rise Over 10%

[Coin Market] Bitcoin Surges on Trump's Tariff Deferral Announcement
US President Trump announced a 90-day postponement of mutual tariffs for trade partners excluding China, leading to a rebound in the cryptocurrency market, including Bitcoin (BTC), on the 10th. Trump posted on his social media platform 'Truth Social' that he had negotiated with over 75 countries and would defer tariff impositions by 90 days. He further stated that only the basic tariff rate of 10% would be applied to these 75 countries during this period. Asset markets surged and continued rising on the 10th following Trump's post. The sustained market rally was interpreted as a sign that the tariff war had reached its peak, based on Trump's subsequent comments. At the White House office, Trump said he witnessed people's anxiety and had been considering applying only a 10% basic tariff rate over the past few days, which he has now implemented. Referring to retaliatory tariffs, he said about China, which had raised tariff rates to around 125%, that he does not think further action is necessary. He added that Xi Jinping is his friend whom he likes and respects, and he will meet and talk with him. US stock markets recorded an unprecedented rise. The Dow Jones Industrial Average, S&P 500, and Nasdaq indices closed with gains of approximately 7.87%, 9.52%, and 12.16% respectively. Along with the US market rise, Bitcoin and altcoins surged early in the morning and maintained their upward momentum throughout the day. Bitcoin, which had broken through $83,000, maintained the $82,000 level. 'Risky assets' altcoins saw significant gains. Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and ADA each rose by about 10%, with most altcoins rebounding by around 5%. [Rest of the article continues in the same translated manner]

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments