The cryptocurrency market experienced a significant surge of 5.5%, adding $94.5 billion in market capitalization, following former U.S. President Donald Trump’s announcement of a revision to his tariff policy. The decision to reduce tariffs for all U.S. trade partners to a flat 10% rate, excluding China, instilled confidence in investors across global financial markets, including digital assets. Bitcoin (BTC) led the rebound, climbing 6.5% to trade above $82,600, while Ethereum (ETH) and Ripple’s XRP saw even stronger rallies, each gaining over 10% in the hours following the announcement.
The reversal of Trump’s sweeping tariffs is seen as an attempt to restore market confidence while maintaining a tough stance on China. As Asian trading remains closed, more capital inflows are expected in the crypto markets as investors re-allocate their funds towards risk assets like cryptocurrencies. Analysts are closely monitoring how Bitcoin, Ripple (XRP), and Ethereum (ETH) prices will react to these tariff cuts in the coming trading sessions.
Ethereum (ETH) rebounded strongly, surging 11.23% to $1,638 after hitting a multi-week low. The price reclaimed the lower band of the Keltner Channel at $1,499, signaling a potential mean reversion. The Detrended Price Oscillator (DPO) also showed signs of a trend shift, with a target of $1,800 as the next technical ceiling. However, traders are advised to be cautious of early profit-taking, as a reversal back to $1,500 remains a possibility.
Ripple (XRP) experienced a breakout above $2.04, indicating a shift in short-term sentiment. The price broke above the VWAP at $1.95, a key level for institutional traders, and rebounded decisively off the lower Donchian Band at $1.61. The Ripple price forecast now leans bullish, with a target of $0.84 if bulls can reclaim critical support and break above $2.05 resistance.
Bitcoin (BTC) surged nearly 8% to reclaim $82,240 after bouncing from $74,000, showing technical resilience near a psychologically pivotal level. The MACD line hints at a potential bullish cross if the price sustains above $80,000, supporting a Bitcoin price forecast of $84,000 in the near term. However, resistance may trigger a pullback if BTC stalls near $83,500, with $77,600 acting as critical support.
Overall, the crypto market is experiencing renewed bullish momentum following Trump’s tariff reversal, with Bitcoin, Ripple (XRP), and Ethereum (ETH) all showing signs of potential upside if key resistance levels are breached. Investors are advised to monitor market developments closely and exercise caution in their trading strategies.
