BTC Surges to $83k as Trump Pauses Tariff for 90 Days

TL;DR

• Bitcoin rallied by over 7% on Wednesday to hit the $83k level following days of bearish performance.

• Altcoins also rallied higher, with XRP jumping to $2.

Bitcoin Reclaims $83k After Tariff Pause

The cryptocurrency market finally caught a break on Wednesday following days of bearish performances. Bitcoin, the leading cryptocurrency by market cap, added 7% to its value on Wednesday to hit the $83,600 mark for the first time this week. 

Bitcoin has slightly retraced and now trades at $82,140 per coin. The positive performance came after President Trump changed course on a steep tariff levy globally. The president paused the tariff for 90 days, causing a relief in the broader financial markets.

Ether, the second-largest cryptocurrency by market cap, added 10% to its value and now trades above $1,600 per coin. XRP was the best performer among the top 10 cryptocurrencies by market cap, up 11% in the last 24 hours. At press time, XRP is trading at $2 per coin.

Thanks to yesterday’s rally, the total cryptocurrency market cap has now reclaimed the $2.6 trillion level.