Cryptocurrencies Soar Up to 14% as Bitcoin Reaches $82,000
Cryptocurrencies, like traditional markets, are soaring following Donald Trump’s announcement of a tariff hike on Chinese imports to 125% and a 90-day truce granted to other countries.
Bitcoin is up 6.6%, trading at $82,181 according to Binance, while Ethereum jumps 11.2% to $1,647. The bullish sentiment extends across the entire crypto ecosystem, with top-20 tokens posting gains of up to 14.2%, led by Avalanche.
Trump announced on Truth Social that the U.S. will “immediately” raise tariffs on Chinese imports to 125%, citing Beijing’s “disrespect” for international markets as justification.
However, in the same post, the former president revealed that he had authorized a “90-DAY PAUSE” for other nations, noting that more than 75 countries have already reached out to initiate negotiations.
During this period, a “substantially reduced reciprocal tariff of 10%” will take effect — a measure Trump said will be implemented immediately.
It’s worth noting that Bitcoin (BTC) began the day with sharp losses, falling below $76,000, while Ethereum (ETH) dropped over 8%, dipping back under $1,500.
Trump, China, and Crypto Volatility: Markets in Panic Mode
These sharp movements come as stock markets also slide deep into the red, following Trump’s previous decision to raise tariffs on China to 104%. The U.S. president added an extra 50% tariff on top of China’s retaliatory 34% duty — effectively pushing total tariffs on Chinese imports to at least 54%.
In response, China has now declared it will take “resolute and forceful” measures to protect its own interests. “If the United States truly wants to resolve the issue through dialogue and negotiation, it must demonstrate a spirit of equality, mutual respect, and benefit,” said Foreign Ministry spokesperson Lin Jian. He also warned that “if the United States insists on waging a tariff and trade war, China will definitely fight to the end.”
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