Bitcoin (BTC) reclaimed the $82,000 mark on Thursday after President Donald Trump announced a surprise 90-day delay on most new trade tariffs, sparking a sharp rally across global financial markets. The move, which temporarily eased investor fears of a prolonged trade war, also lifted Ethereum (ETH) and XRP, alongside a broad rally in altcoins.
Bitcoin surged nearly 9%, briefly hitting $82,500 before settling near $81,700 over the past 24 hours. Ethereum climbed 13.4% to $1,611, while XRP followed closely with a 13% gain. The broader crypto market saw similar momentum, with several altcoins posting double-digit percentage increases.
China Tariffs Remain Despite Broad Freeze
While the delay applies to most international trade partners, the U.S. confirmed an increase in tariffs on Chinese imports to 125%, citing Beijing’s failure to comply with global trade standards. In retaliation, China raised tariffs on U.S. goods to 84%, underscoring the ongoing strain between the world’s two largest economies.
Existing tariffs on automobiles, steel, and aluminum remain in place, along with a 10% general tariff on foreign imports, the White House confirmed.
Equities and Crypto Post Historic One-Day Gains
Markets rallied strongly in response. The S&P 500 rose 9.5%, marking its largest single-day gain since October 2008, while the total crypto market cap jumped 5.9% to $2.68 trillion, according to CoinGecko.
Top-performing altcoins included:
- Flare (FLR): +34.9%
- Ondo (ONDO): +21%
- High Volatility Sparks Nearly $500M in Liquidations
The sharp rebound caused major losses for leveraged traders. Data from Coinglass shows that 131,555 traders were liquidated in the past 24 hours, totaling $487.1 million in liquidations:
- Bitcoin: $185.2M
- Ethereum: $138.8M
Markus Thielen, head of research at 10X Research, urged caution.
“This rally may be short-lived. Structural economic headwinds remain and could resurface during the U.S. corporate earnings season,” he told Cryptonews.
Is This a Turnaround or Just a Temporary Relief Rally?
While the sharp price action has reignited optimism, analysts remain cautious. Lingering trade tensions, particularly between the U.S. and China, alongside upcoming inflation data and central bank policy decisions, could keep volatility high in the near term.
