Bitcoin Surges to Nearly $82,000 as Crypto Market Gains Momentum
Bitcoin (BTC) approached $82,000 on Thursday, driven by a reversal in tariff policy from President Trump, which boosted equity markets. Key points include:
- XRP and ether (ETH) surged 12%, while Cardano’s ADA, BNB Chain’s BNB, Solana’s SOL, and dogecoin (DOGE) rose up to 10%.
- Overall market capitalization increased by 6%, with the CoinDesk 20 (CD20) gaining 7%.
- Crypto futures experienced over $350 million in short liquidations, the highest since early March, alleviating recent losses.
- Bittensor’s TAO, Sonic’s S, and Flare’s FLARE saw up to 30% gains among mid-cap tokens.
- Trump's tariff increases on China to 125% contrasted with a reduction to 10% for other nations, amid global recession concerns.
- The S&P 500 Index rose 9.5%, and Nasdaq 100 surged 12%, marking significant stock market recoveries.
Market participants are assessing trade negotiations and potential tariffs' impacts on global trade dynamics. Some analysts suggest that the cryptocurrency market may have reached a local bottom, citing optimism about regulatory developments and the possibility of future growth.