Bitcoin Surges Above $85,000 Ahead of Trump Tariff Announcement
Risk assets, including crypto, are attempting a rally, supported by speculation that Donald Trump's upcoming tariffs may be less severe than anticipated.
- Bitcoin (BTC) rose to over $85,000, up 2.1% in 24 hours.
- Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) saw gains of approximately 4.2%.
- Crypto stocks also gained: Core Scientific (CORZ) and CleanSpark (CLSK) nearly 10%, MicroStrategy (MSTR) 5.4%, and Coinbase (COIN) 2.1%.
- The Nasdaq index reversed losses to rise nearly 1%.
Reports indicate that the feared blanket 20% tariffs are "less likely," with a potential tiered system suggested instead. White House Press Secretary Karoline Leavitt acknowledged concerns about market volatility due to tariff discussions.
Additionally, Israel's Minister of Finance announced efforts to eliminate tariffs on U.S. imports.