Key Takeaways
- Bitcoin surged to nearly $100K after recovering from a drop below $92K, following Trump’s announcement to pause Mexico tariffs for one month.
- Markets remain volatile as details of established tariffs with Canada and China keep traders on edge.
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Bitcoin is nearing the $100,000 mark after a sharp rebound fueled by easing market fears following President Trump’s announcement to pause tariffs on Mexico for one month.
The asset, which had fallen more than 10% to a low of around $91,500 after Trump initially announced a 25% tariff on imports from Mexico, has since surged back, currently trading at approximately $99,5K.
The market’s initial reaction to Trump’s tariff announcement on Sunday triggered a significant sell-off across crypto assets, with Bitcoin leading the decline.
However, the turnaround came after Trump confirmed a deal with Mexican President Claudia Sheinbaum to pause the tariffs temporarily.
As part of the agreement, Mexico will deploy 10,000 National Guard troops to its northern border to address concerns related to drug trafficking and illegal immigration.
Trump announced on Truth Social that the anticipated tariffs will be paused for one month, during which negotiations will take place.
These talks will be led by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, alongside high-level representatives from Mexico.
While Bitcoin has recovered most of its losses, other digital assets remain under pressure.
Ethereum trades at $2,700, Solana at $208, XRP at $2.68, and Dogecoin at $0.27, showing partial recoveries but remaining below their previous trading ranges.
Markets continue to show volatility amid uncertainty over the details of tariffs with Canada and China, with traders awaiting Trump’s upcoming announcements.
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