What to know:
- U.S.-listed cryptocurrency stocks experienced a significant rally after President Trump announced a 90-day pause on tariffs for most countries, excluding China.
- Shares of MicroStrategy and Coinbase saw increases of over 20%, while crypto miners also enjoyed substantial gains.
- Traditional financial markets thrived as well, with the Nasdaq rising by 10% and the S&P 500 by 8%.
Recently, despite a minor decline in Bitcoin (BTC) over the preceding days, crypto stocks witnessed substantial increases spurred by the pause in tariffs declared by Trump. Key players such as MicroStrategy (MSTR) advanced by 25%, while Coinbase (COIN) rose by 21%. Other notable movements included bitcoin miners like Marathon Digital (MARA) and Riot Platforms (RIOT) which also posted gains in the double digits.
Additionally, stocks like Semler Scientific (SMLR) and Fold (FLD) experienced nearly 10% increases, coinciding with the broader surge seen in U.S. equities — the Nasdaq climbing more than 10% and the S&P 500 seeing an 8% rise.
Bitcoin surpassed $82,000, reflecting over a 6% increase in the last 24 hours.
These significant gains come on the heels of a tumultuous few days for the markets that nearly devolved into a panic-stricken free fall after President Trump unveiled his aggressive tariff strategy last Wednesday.
“I have authorized a 90 day PAUSE,” said the president on Truth Social today, triggering the major market rally.
