Early signs suggest the White House may be pulling back on its stringent tariff stance, injecting fresh risk capital into digital assets. That possibility lit a spark under crypto markets late Monday.
🚀 Crypto Crowd Cheers Trump’s Comments
After days of subdued trading, Bitcoin (BTCUSD) gained roughly 3% in the aftermath of President Donald Trump hinting he might soften his wide-ranging import duties. In a televised address, he noted that “a lot of countries” could receive exemptions ahead of an April 2 deadline. Traditional equities soared on the news—especially tech stocks—and cryptos soon followed suit.
📈 Bitcoin Briefly Soars Above $88,000
Similar to tech shares (and just as volatile), cryptos embraced the rally. Bitcoin climbed from around $84,000 to a three-week high of $88,000. The party was short-lived, though: by Tuesday morning, BTC slipped below $87,000. Meanwhile, Ethereum (ETHUSD)—the second-largest coin—scored its third consecutive day of gains, peaking near $2,100 before easing back toward $2,000.
⏳ Crypto Approaches $3 Trillion Market Cap
Fueled by optimism, the total crypto market edged closer to the $3 trillion mark Monday as traders poured into their favorite tokens. By Tuesday, momentum had faded slightly, with the broader market hovering near $2.85 trillion—down from a peak of $2.93 trillion.
While Trump’s tariff news takes center stage this week, traders will also be watching upcoming U.S. economic data: consumer confidence numbers today, GDP on Thursday, and the Fed’s preferred inflation gauge (the PCE) on Friday. Any surprises there could move the crypto needle even more.