The pause excluded China, which is now facing a 125% tariff, effective immediately.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin (BTC) soared back above $82,000 on April 9 after President Donald Trump announced that his administration would pause tariffs on most nations for 90 days, igniting a broad rally in global markets after a bloody week.
Trump’s post, which excluded China from the tariff freeze, framed the decision as a “strategic timeout” aimed at stabilizing global supply chains and preventing a potential recession.
While the White House has not issued a formal statement, markets took Trump's post as a signal of easing geopolitical risk, with traders quickly rotating into risk-on assets.
Based on CryptoSlate data, Bitcoin was trading at $82,277 as of press time, up 6.25% over the past 24 hours.
Ethereum (ETH) climbed 10% to $1,639, while Solana (SOL), XRP, and other large-cap tokens posted similar gains as markets responded with swift optimism to the announcement. Traders viewed the move as a temporary reprieve from escalating trade tensions, which have pressured risk assets for weeks.
The broader financial markets mirrored the optimism, with over $2 trillion flooded back into equities and traditional risk markets within minutes following the announcement.
As of press time, the S&P 500 was up 7.92%, while the Dow Jones Industrial Average was up over 6.69%. The tech-heavy Nasdaq outperformed and was up 9.74%, with the Invesco QQQ Trust (QQQ) climbing 9.41%.
The rally marked a reversal from last week’s volatility, when an unverified report falsely hinted at tariff delays, causing a brief market surge before officials denied any policy change.
The strong rally indicates renewed investor confidence and increased institutional buying as possible contributors to Bitcoin’s swift move past the $80,000 threshold. The flagship crypto had been trading in a tight range near $76,000 this week.
As volatility persists, both crypto and equity markets are expected to remain sensitive to further policy statements ahead of the next Federal Reserve meeting.
At the time of press 8:04 pm UTC on Apr. 9, 2025, Bitcoin is ranked #1 by market cap and the price is up 6.52% over the past 24 hours. Bitcoin has a market capitalization of $1.63 trillion with a 24-hour trading volume of $71.9 billion. Learn more about Bitcoin ›
At the time of press 8:04 pm UTC on Apr. 9, 2025, the total crypto market is valued at at $2.62 trillion with a 24-hour volume of $161.05 billion. Bitcoin dominance is currently at 62.38%. Learn more about the crypto market ›
