Bitcoin rebounds to $82k as Trump delays tariffs, but gains remain modest
Bitcoin bounced back sharply on Thursday, recovering from recent losses as risk sentiment improved after U.S. President Donald Trump postponed his steep tariff plans. However, overall gains were kept in check by worries over an escalating trade war between the U.S. and China. While Trump’s delay eased some pressure, he did not exempt China – instead, he raised tariffs on the country, prompting strong retaliatory measures from Beijing.
The positive move helped boost broader risk-driven markets, which rallied after Trump announced tariff exemptions on Wednesday evening. Even so, Bitcoin’s rise was lower than the gains seen in equity and currency markets. This slowdown came after Strategy, the world’s largest corporate Bitcoin holder, reported significant losses in the value of its digital assets.
By 01:56 ET (05:56 GMT), Bitcoin had climbed 7% to $82,146, recovering from a five-month low it hit earlier in April.
The rally took place in an overall risk-on environment. Trump extended the deadline for imposing steep trade tariffs by 90 days, giving countries extra time to negotiate and possibly secure new trade deals that might lessen the tariffs’ impact on global supply chains and the economy. Yet, China received no exemptions; tariffs on Beijing were raised to 120% over its retaliatory measures. On Wednesday, China announced an 84% tariff on U.S. goods and showed little sign of backing down. This tariff exchange has intensified concerns about a worsening trade war between the two largest economies, potentially disrupting global supply chains and unsettling markets.
Meanwhile, the crypto market as a whole surged. Dogecoin jumped nearly 10% after fund manager 21Shares said it applied to list an exchange-traded fund tracking the popular memecoin in the U.S. This move could attract billions of dollars from institutional investors. Ether, the world’s second-largest cryptocurrency, increased 11.1% to $1,621.92, while XRP climbed almost 12% to $2.0164. Other altcoins like Solana, Cardano, and Polygon rose between 7% and 11%, and even the $TRUMP token recorded a 7% gain.