Bitcoin (BTC) has reclaimed the critical $85,000 level, surging 2.1% in the past 24 hours as markets react positively to reports suggesting Donald Trump’s anticipated tariff announcement may be less severe than initially feared. This price movement comes at a crucial time, as recent technical indicators had warned of potential weakness around the $82K support level.
Market Recovery Across Crypto Assets
The crypto market is showing broad-based strength, with several major assets posting significant gains:
- Ethereum (ETH): Leading altcoin showing stronger momentum
- Dogecoin (DOGE): Meme coin continues recovery
- Cardano (ADA): Double-digit percentage gains
Crypto Stocks Rally on Bitcoin’s Momentum
The positive sentiment has extended to crypto-related stocks, with mining companies leading the charge. Core Scientific (CORZ) and CleanSpark (CLSK) have jumped nearly 10%, while MicroStrategy (MSTR) continues its impressive performance with a 5.4% gain. Coinbase (COIN) has also joined the rally with a 2.1% increase.
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Trump’s ‘Liberation Day’ Tariff Outlook
Market sentiment has improved following NBC News reports suggesting that the feared 20% blanket tariffs are unlikely. Instead, a more nuanced approach featuring tiered rates or country-specific tariffs appears more probable. This development has helped ease concerns about potential market disruption.
Global Trade Implications
Adding to the positive momentum, Israel’s announcement regarding the elimination of U.S. import tariffs suggests a potential trend toward trade liberalization, which could benefit global markets and crypto assets.
FAQ Section
What is Trump’s ‘Liberation Day’ announcement?
The announcement, scheduled for tomorrow after U.S. market close, will detail the administration’s new tariff policies.
How might these tariffs affect crypto markets?
While direct impact may be limited, crypto markets often react to broader economic policy changes that affect risk assets.
What are the key resistance levels for Bitcoin?
Current technical analysis suggests the next major resistance levels are at $87,000 and $90,000.