The Tariff saga took a new turn as Donald Trump announced on April 9 a 90-day pause on reciprocal and 10% tariffs, excluding China.
In the latest Truth Social post, Trump said that China has shown a lack of respect for the global markets, and due to this, he raised the Tariff charged to China by the United States of America to 125%, effective immediately.
Additionally, Trump mentioned in the post that for the next 90 days, the U.S. will charge a much lower tariff of 10% than many other countries. The decision was taken because other countries did not retaliate with the U.S. against the current tariff issues.
After this announcement, the crypto market triggered positively and surged by approximately 7%. The crypto total market cap rose by 6.53%, currently at $2.61 trillion. On the other hand, Bitcoin just skyrocketed and increased by almost 8.19%, currently trading at $82,572. Ethereum (ETH) on the other end, rose by 13%, currently trading at $1,664.85.
Will Bitcoin Price Hit $100000 Again?
Bitcoin’s price surged 8% after the announcement and surprised the whole crypto community. After being bearish for almost two weeks, the BTC price suddenly rose and began to hit a new swing high. It broke out of the $80k hurdle with a high volume, which grabbed the attention of the analysts and the community.
As Trump implemented a 90-day pause on tariffs, experts are predicting that Bitcoin might reach the 100K mark in upcoming sessions. However, Bitcoin still has to break above the 50-day and 200-day EMA levels to achieve this. If BTC successfully breaks above key EMAs, investors may witness the $ 100k mark in the upcoming days.
Also Read: Crypto Bull Run is Back? BTC, ETH, XRP Prices are Going Up
