Bitcoin (BTC) has surged 3% to $88,600 in the last 24 hours as reports indicate President Trump’s upcoming tariff policies may be less aggressive than initially feared. However, the real story lies in the altcoin market, where Solana’s impressive momentum continues alongside strong performances from DOGE and ADA.
Market Overview: Bitcoin Stabilizes While Altcoins Soar
The cryptocurrency market received a boost after anonymous White House sources revealed to Bloomberg and the Wall Street Journal that the administration plans to focus solely on reciprocal tariffs rather than implementing broader sector-specific measures. This development has helped ease concerns about potential economic disruption.
Key Performance Metrics
- Bitcoin: +3% ($84,000 to $88,600)
- Solana: +8%
- Dogecoin: +7.8%
- Cardano: +4.5%
- Ethereum: +4%
- XRP: +2%
Market Impact and Expert Analysis
Dan Greer, CEO of Defi App, notes that Bitcoin’s recent price action directly correlates with the shifting tariff narrative. The cryptocurrency had previously experienced volatility, dropping from its January all-time high of $109,000 to $78,000 earlier this month amid recession fears.
Technical Outlook
Bitcoin has established strong support between $83,000 and $84,000, with current resistance at the $90,000 level. The recent pullback to $86,930 suggests consolidation before the next major move.
Frequently Asked Questions
How will Trump’s tariff policies affect crypto markets?
The narrower approach to tariffs is expected to reduce market uncertainty and potentially support crypto prices by limiting economic disruption.
Why are altcoins outperforming Bitcoin?
Altcoins typically show higher volatility during market recoveries, with projects like Solana benefiting from increased institutional interest and technical improvements.
What are the key support levels for Bitcoin?
Current technical analysis shows strong support between $83,000-$84,000, with secondary support at $78,000.