Bitcoin Leads Market Recovery After President Trump Announces 90-Day Tariff Pause

Highlights:

• Bitcoin jumps over 6% after Trump pauses tariffs for most countries except China.
• Crypto stocks like Coinbase and Strategy rise sharply following tariff relief news.
• Meme coins and altcoins post strong gains but remain below their all-time highs.

President Donald Trump’s 90-day pause on tariffs for most countries led to a broad financial market rally on Wednesday. The announcement, made via his Truth Social platform, outlined a temporary reduction in tariffs to 10% during the pause. However, the policy excludes China, which will now face increased levies of up to 125%.

According to Trump, over 75 countries had reached out to U.S. officials recently to discuss trade conditions. He presented the pause as a show of goodwill to trading partners ready to cut a better deal. It is expected that the pause will last through the upcoming quarter and offer a reprieve to stretched global markets in the meantime.

Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent both confirmed their involvement in the announcement. In a press briefing, Bessent warned nations not to retaliate and said those seeking to negotiate would be given the opportunity. Lutnick called the president’s post one of the most significant of his tenure.

Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency. The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction. pic.twitter.com/wNvg8NBnSR

— Howard Lutnick (@howardlutnick) April 9, 2025

The news sparked an immediate response across financial markets. The S&P 500 jumped 9%, while the Nasdaq gained 10%. The Dow Jones posted its largest single-day rally in five years. Stocks in the tech and finance sectors surged, and investor sentiment shifted sharply after weeks of volatility linked to tariff uncertainty.

The cryptocurrency market has not been left behind. At the time of writing, the global market cap is at $2.6 trillion, up by 6.69% in the last 24 hours. In addition, the total trading volume has surged 29.07% to $162.25 billion.

Bitcoin Rebounds Sharply Alongside Crypto-Linked Stocks

Bitcoin led the response in digital assets, rebounding from a day low of $74,567 to close above $82,000 yesterday. As of press time, BTC is trading at 82,156, a 6.04% increase in the past day. The trading volume is up 38.72% to $75.8 billion. In addition, the market cap has surged to $1.63 trillion. The rally follows weeks of price declines tied to global economic concerns and rising U.S. Treasury yields.

Company shares that are highly dependent on Bitcoin also rose sharply. Renewed investor confidence in MicroStrategy’s crypto holdings saw the company climb 25%. Shares of Coinbase were up 16.91%, and Robinhood climbed 23%. Riot Platforms and MARA Holdings, meanwhile, climbed 12.77% and 17%, respectively.

Altcoins and Memecoins Join the Rally

Ethereum also surged in the wake of the announcement, posting a daily gain of 11%. At press time, ETH is trading at $1,614, a 9.81% increase in the past day. Traders have responded positively to the broader risk-on sentiment, with altcoins showing similar momentum.

XRP has climbed 9.92% to reach $2.00, while SOL has gained 8.02% to reach $115.92. Other altcoins have also rebounded, including Avalanche and Cardano, each gaining between 9.09% and 8.84%.

Meme coins have responded with notable enthusiasm. Solana-based token BONK is up 7.55%, while Fartcoin has surged 31.9% on the day, now up more than 212% this month. Dogecoin added more than 5% in 24 hours. Ethereum-based meme token Shiba Inu has gained over 7.67%. The broader market cap of memecoins is up by 12%, according to data from CoinGecko.

However, most of these tokens are still way off their all-time highs, even after the rally. Solana and XRP are both trading at significant discounts to previous highs, and DOGE is still down over 78% from its peak in 2021. Traders who had followed sharp declines across the board recently have welcomed the rebound.