Following Trump’s announcement, Bitcoin (BTC) rebounded sharply, climbing from $74,500 to $83,000. At press time, the asset hovered at $81,600.
Ethereum (ETH) saw an 8% increase, reaching $1,500, while XRP surged by 8.8%, hitting $1.99. Solana (SOL) rose 6.8% to $115, contributing to a broader rally in the crypto sector.
Crypto-exposed equities also saw significant jumps. Strategy (formerly MicroStrategy) surged 24%, Robinhood Markets rose 22%, and Coinbase gained 19%. Crypto mining stocks such as MARA Holdings and Riot Platforms posted 17% and 11% gains, respectively.
Bitcoin topped $83,000. | Credit: CoinMarketCap
Rania Gule, Senior Market Analyst at XS.com, told CCN, “The 8% jump within hours of the tariff pause underscores Bitcoin’s growing role as a global economic indicator, reacting directly to geopolitical shifts.”
Gule further noted that the market is increasingly viewing Bitcoin as an alternative asset, one that gains appeal when traditional markets face instability.
Larry Fink’s remarks—CEO of BlackRock—also played a pivotal role in fueling this leap.
“When one of the world’s most prominent asset managers declares that a potential 20% market crash is a buying opportunity, he’s not just guiding retail investors—he’s preparing the market for a massive institutional wave heading toward crypto assets, especially Bitcoin,” Gule noted.
Stock Markets Follow Suit, Tech Stocks Lead the Charge
Wall Street zeroed in on the upside Wednesday, with markets posting massive gains, the most significant rebound since the Great Financial Crisis of 2008.
The Dow Jones Industrial Average surged by 2,962 points, a 7.9% jump. The Nasdaq soared 12.2%, while the S&P 500 logged its third-strongest single-day performance since 1940.
Among the top performers in the S&P 500:
Microchip Technology soared 27.1%, topping the list.
Delta Air Lines, Monolithic Power Systems, and ON Semiconductor rallied more than 22%.
Tesla, Skyworks Solutions, and NXP Semiconductors also posted gains above 21%.
Equities rallied in New York, Asia and Europe as Trump announced a pause in tariff applications. | Credit: MarketWatch
On Thursday, markets soared at the opening bell in Europe. The Stoxx 600 index jumped by 5.8%, with broad-based gains pushing every sector into the green.
Banking stocks led the rally, up 9%, followed by technology and industrials, which climbed 7% and 7.2%, respectively.
Asia-Pacific markets rallied on Thursday, following Wall Street’s most substantial surge since 2008 after President Trump announced a 90-day pause on higher tariffs for all countries except China.
Japan led the region, with the Nikkei 225 jumping by 9.1% and the Topix rising by 8.1%. South Korea’s Kospi climbed by 6.6%. In China, the CSI 300 rose by 1.3%, and Hong Kong’s Hang Seng ended up by 1.9%.
Uncertainty Remains Despite Tariff Pause
Despite the relief rally, analysts remain cautious about the long-term effects of Trump’s tariff pause.
Matt Britzman, Senior Equity Analyst at Hargreaves Lansdown, emphasized, “We still don’t know if this tariff strategy is going to do more harm than good. It’s crucial not to confuse this pause with a resolution to the underlying issues related to inflation and global growth.”
Britzman added that the pause provides an opportunity for negotiations and supply chain adjustments, but warned that the situation remains fluid, especially for the European Union, which could still face retaliatory measures.
Matthew Ryan, Head of Market Strategy at Ebury, pointed out that while uncertainty remains high, the potential for a reduction in tariff rates could provide a boost to market sentiment in the near term.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
