Cryptocurrencies surged on Wednesday after former U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs for over 75 non-retaliating countries, fueling optimism across global financial markets and risk assets.
Bitcoin (BTC) climbed 5.44% to $81,650, while Ethereum (ETH) rallied 8.91% to $1,614. Among altcoins, Solana (SOL) posted a stellar gain of 12.77% to $118.77, and Ripple’s XRP surged nearly 10% to $2.04. Binance Coin (BNB) also gained 4.61%, trading at $581.01.
The rally comes after Trump escalated tariffs on China from 104% to 125%, effective immediately, citing Beijing’s “lack of respect to global markets.” However, he simultaneously announced a 90-day pause and a reduced 10% tariff for countries that had not retaliated and expressed interest in negotiations.
Market watchers see the move as a de-escalation signal toward the broader global economy, sparking renewed investor confidence in riskier assets like crypto. Traders are also betting that the tariff reprieve may soften macroeconomic headwinds, especially for emerging economies like India, South Korea, and Vietnam, which were specifically named in Treasury Secretary Bessent’s upcoming diplomatic tour.
The broader market relief was also reflected in equity indices, with the Nasdaq jumping over 8% and the Dow up nearly 6% intraday.
While volatility remains, analysts suggest crypto markets could maintain their bullish momentum if geopolitical tensions continue to ease and liquidity returns to risk assets.
