The price of Bitcoin, the leading cryptocurrency by market capitalization, has surged by roughly 5%, reaching an intraday high of $81,798 on the Bitstamp exchange.
This comes after the U.S. has moved to authorize a 90-day tariff pause for non-retaliating countries. However, it is worth noting that tariffs have been raised ot 125% for China.
Treasury Secretary Scott Bessent has stated that the countries that did not retaliate will be "rewarded." He has denied that the tariff pause was due to market volatility.
The S&P 500 is now up by as much as 6%. The tech-heavy Nasdaq-100 has skyrocketed by as much as 8% on the tariff news, outperforming Bitcoin.
The shares of Strategy (MSTR), the largest corporate holder of Bitcoin, soared by nearly 20%. Robinhood (HOOD) and Coinbase (COIN) are up by 17% and 13%, respectively.
Weiss Crypto, the cryptocurrency-focused subsidiary of Weiss Ratings, has opined that a relief rally could still happen despite the unfolding chaos.
"Despite the chaos, we see a significant relief rally on the horizon. Liquidity has been going up throughout all of 2025. That means there’s a rally that’s pretty much already baked into the cake, just looking for a trigger," the firm said.
The Fed potentially cutting interest rates could be a key bullish catalyst for the market.
However, expectations of a rate cut at the next Federal Reserve meeting have plummeted following the most recent about-turn.
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