- Bitcoin spiked to above $82,000 on Wednesday, rising by more than 4.7% within minutes.
- The significant Bitcoin uptick followed President Donald Trump’s 90-day tariff pause announcement.
- BTC could extend gains, but the exclusion of China from the pause is a key factor to watch.
Bitcoin surged past $82,000 on Wednesday, marking a significant rally in the cryptocurrency market, following President Donald Trump’s announcement of a 90-day tariff pause for several countries.
The leading digital asset, which had been trading below $78,000 earlier in the day, climbed to $82,705, as of the time of writing, up more than 5% in the past 24 hours.
BTC’s sharp price spike reflected a rapid 4.7% increase within minutes of the news breaking.
Other cryptocurrencies also rose, with Ethereum up 6%, XRP 8%, and Solana 7% (as of writing).
Trump pauses tariffs, excludes China
Bitcoin’s spike comes amid heightened market volatility driven by Trump’s latest trade policy announcement and subsequent global reactions.
In a statement posted on Truth Social, Trump revealed the tariff pause, crediting it to negotiations with “more than 75 Countries” that reached out to U.S. officials to address trade imbalances he has long criticized.
“These countries have contacted us to negotiate solutions,” Trump wrote, signaling a temporary reprieve from the sweeping tariffs that had taken effect this week.
However, the pause does not extend to China, as Trump simultaneously escalated tensions by raising tariffs on Chinese imports to 125% “effective immediately.”
The US president cited Beijing’s “lack of respect” for global markets as the reason.
China, in response, had already intensified its retaliatory measures earlier, hiking tariffs on US imports to 84% from 34%. It followed Trump’s initial tariff salvo that had imposed a 104% tariff on China.
Amid this tit-for-tat escalation, BTC and crypto prices slipped as fears of a global trade war deepened. The 90-day pause is a major shift in the short term, and Bitcoin’s reaction alludes to investor sentiment around the topic.
What next for BTC, crypto?
Bitcoin’s rally suggests investors are viewing the pause positively, with the cryptocurrency likely to extend gains above $80k.
Notably, this is the scenario given that Trump’s partial tariff reprieve has reignited risk-on sentiment, with U.S. equity futures also rebounding sharply.
However, the relief may be short-lived. China’s refusal to back down and the exclusion of Beijing from the pause could prolong volatility. For now, Bitcoin’s climb past $81,000 underscores its resilience and potential upside continuation. But, investors will be keen on China’s next move.
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