**Trump’s Tariff Reversal Sparks Bitcoin Recovery**
In a surprising turn of events, President Donald Trump has decided to reverse country-specific tariffs following a financial crisis. This announcement has led to a notable recovery in Bitcoin (BTC), as bullish sentiment returns to the market. This week, cryptocurrency assets experienced a significant decline, mirroring the downturn in the U.S. stock market, which set a challenging tone for the beginning of the new quarter.
**Bullish Bitcoin Price Action**
The leading cryptocurrency by market capitalization saw a surge in momentum during the early hours of April 10, thanks to this pivotal policy change. Bitcoin has risen by 7% in the past 24 hours, as bullish traders stepped into the spotlight. The asset has successfully reclaimed the $80,000 mark, a key psychological threshold for traders aiming for substantial gains. For many in the trading community, this $80,000 level signifies renewed interest from institutional investors, particularly as the market begins to factor in a potential Trump election victory. As of this writing, Bitcoin is trading at $82,008, effectively reversing a significant portion of recent weekly outflows. Losses over the past week now stand at 1.24%, while monthly performance has returned to positive territory. The market capitalization has surpassed $1.62 trillion, and an increase in trading volumes serves as a rallying point for bulls eager to push Bitcoin back to $90,000.
In addition, large investors, often referred to as “whales,” have ramped up their accumulation efforts, making substantial purchases in the last 24 hours. On-chain data reveals that a crypto whale acquired 1,800 BTC, valued at approximately $147 million. Moreover, centralized exchanges have reported outflows, indicating a trend toward long-term holdings. This shift reflects growing confidence in the market among both retail and institutional traders. New Bitcoin holders are eager to re-enter profit territory after the recent downturn, which erased billions from the market. According to Whale Alert data, a crypto user transferred 800 BTC from Binance to another custodian, followed by a series of similar transactions.
**Trump Pauses Tariffs**
The recent rebound in Bitcoin can be attributed to a 90-day pause on sweeping tariffs announced by the White House. These tariffs had previously driven crypto prices and the stock market to lows not seen in months. While the country-specific tariffs have been put on hold, additional measures targeting China have been introduced as tensions in the trade war between the two nations escalate.
“I thought that people were jumping a little bit out of line… They were getting a little bit yippy, a little bit afraid… We’ve got a big job to do. No other president would have done what I did… No others. I know the presidents; they wouldn’t have done it,” Trump remarked, emphasizing his unique approach to the situation.
