The global financial markets just caught a breather—and then some. U.S. President Donald Trump announced a 90-day pause on import duties for most countries (with one big exception: China), and the reaction was immediate. Bitcoin skyrocketed 7% in a single day, hitting $82,000, while U.S. stocks and mining firms jumped into rally mode.
But that’s just the surface. Behind the scenes, bold moves, fiery statements, and surprise tariff changes are shaking things up.
Here’s what went down – and why it’s sending shockwaves through Wall Street and the crypto world alike.
On April 9, Trump made a strong statement on Truth Social, saying China has shown “a lack of respect for world markets.” In response, we’ve raised tariffs on Chinese goods to 125%, effective immediately.
Trump also revealed that over 75 countries are actively engaged in trade discussions with U.S. representatives from the Department of Commerce, the Treasury, and the U.S. Trade Representative (USTR). To foster these ongoing negotiations, the president announced a temporary 90-day suspension of import duties for countries outside China, along with a reduction in reciprocal tariffs to 10% during this period.
The market responded swiftly and positively. Bitcoin, the world’s leading cryptocurrency by market capitalization, climbed 7% to reach $82,000. Meanwhile, major U.S. stock indices soared nearly 10%, fueled by investor enthusiasm over the tariff reprieve.
Crypto-focused companies and major Bitcoin-holding firms experienced sharp rebounds, recovering ground lost in the prior week. Corporate Bitcoin holders such as Strategy, Metaplanet, and Tesla saw their stock prices rise between 15% and 25%.
Mining Stocks on Fire
Bitcoin mining companies led the charge. Bitfarms saw a 24% jump in its share price, while Riot rose by 13%, and MARA Holdings gained 16%, reflecting renewed confidence in the sector.
Even though the altcoin crypto market wasn’t left behind. Ethereum, the second-largest cryptocurrency, saw its price jump by 11%. Other major cryptocurrencies, including XRP, Solana, Dogecoin, and Shiba Inu, also increased between 10% and 12%.
Turns out, all it took was a trade truce—Bitcoin’s back in the spotlight, and miners are dancing again.
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