President Donald Trump’s decision to suspend import tariffs on Canada and Mexico for 30 days created a positive wave across global markets. This development prompted a rapid recovery in the cryptocurrency market, with Bitcoin , Ethereum , and Ripple among many digital currencies experiencing gains. The surge in value was linked to eased global trade tensions, demonstrating increased investor confidence as the market capitalization surpassed $3.32 trillion.
Tariff Suspension and Market Effects
The agreement between the U.S., Canada, and Mexico on border security and organized crime temporarily froze trade tensions. Canadian Prime Minister Justin Trudeau described the suspension of tariffs as “an important step in line with common interests.” The increased risk appetite in global markets boosted demand for cryptocurrencies.
In the last 24 hours, Bitcoin gained 7%, testing the $100,000 level. Ethereum rose by 11%, while Ripple (XRP) increased by nearly 20%. Altcoins and meme-themed digital currencies also displayed similar activity. Analysts emphasized that the rise in the cryptocurrency market stemmed from a search for a “safe haven” amid global economic uncertainties.
New Asset Fund and Expectations
The U.S. administration’s announcement of a new asset fund plan supported market dynamics. The potential inclusion of digital assets like Bitcoin and Ethereum in the fund’s portfolio has mobilized investors. Experts stated that this move could enhance the legitimacy of the cryptocurrency market among institutional investors.
However, there are ongoing doubts regarding the sustainability of the recovery. Some analysts warned that if tariffs resurface after the 30-day period, volatility could increase. Despite short-term signs of improvement, more data is necessary to clarify medium and long-term trends.
