Bitcoin Soars Past $90K as Trump Hits Pause on Auto Tariffs
Bitcoin rallied past the $90,000 mark on Wednesday after President Donald Trump temporarily halted new auto tariffs on Canadian and Mexican imports, injecting optimism into financial markets.
The administration announced a one-month delay in the tariffs just a day after enforcing them, easing concerns about trade tensions. Additional bullish catalysts included Germany’s plan to relax debt restrictions for infrastructure projects and China’s move to expand its budget deficit.
BTC surged 3.7% in the last 24 hours, leading gains across the crypto market. The CoinDesk 20 Index turned broadly positive, with standout performances from Bitcoin Cash (BCH), Chainlink (LINK), and Aptos (APT), all posting double-digit percentage gains.
Equities also joined the rally, with the Nasdaq and S&P 500 climbing 1.2% and 1.5%, respectively. Crypto-related stocks saw renewed strength, with Coinbase (COIN) up 3.5% and MicroStrategy (MSTR) gaining nearly 10%.
“Historically, trade-related uncertainty has triggered flight to safety in the U.S. dollar, pressuring risk assets like crypto,” said Joel Kruger, market strategist at LMAX Group. “However, this time we see a different trend—DXY has dropped to its lowest level since November, down over 5% from its January peak, which is constructive for BTC.”
Meanwhile, analysts at Swissblock pointed out that bitcoin’s on-chain fundamentals remain strong despite recent price fluctuations.
“Liquidity conditions and network activity suggest BTC is poised for further upside,” the firm wrote in a Telegram update. “We’re on the cusp of shifting into a more bullish phase.”
With macroeconomic forces aligning in bitcoin’s favor and renewed market optimism, traders now look ahead to whether BTC can maintain momentum above the $90K threshold.
