Bitcoin Surges Above $90,000 Following Delay of Auto Tariffs
Donald Trump's recent decision to delay tariffs on auto parts from Canada and Mexico has alleviated investor concerns, leading to a rise in the crypto market. Key points include:
- The U.S. government postponed tariffs by one month.
- Bitcoin (BTC) increased by 3.7%, reaching just above $90,000.
- Other cryptocurrencies like bitcoin cash (BCH), Chainlink (LINK), and Aptos (APT) saw double-digit gains.
- The Nasdaq and S&P 500 rose by 1.2% and 1.5%, respectively.
- Crypto-related stocks also gained, with Coinbase (COIN) up 3.5% and the largest corporate bitcoin holder rising nearly 10%.
- The U.S. dollar index fell to its lowest since early November, down over 5% from January's peak.
- Market strategist Joel Kruger indicated that expectations for Fed rate cuts support BTC as a store of value.
- Swissblock's Bitcoin Fundamental Index showed resilience amid price fluctuations, indicating potential bullish trends for BTC.
