Reason to trust

Despite a stellar 3% price surge in the last 24 hours, propelling it from $84,000 to $88,600, Bitcoin (BTC) has been outpaced by altcoins like Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) in the 24-hour time frame.

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Bitcoin experienced a surge on Monday, reaching its highest point since April 2023, amid reports that the upcoming US tariffs on major trading partners will be less severe than initially anticipated.

Scheduled for announcement on April 2, President Donald Trump had previously stated his intention to impose both reciprocal and sector-specific tariffs on countries including Canada, China, and Mexico.

However, anonymous sources within the White House have informed both Bloomberg and the Wall Street Journal that the president may instead opt for a narrower approach, focusing solely on the tariffs that would be imposed in retaliation for tariffs levied by other countries on US goods.

This shift in strategy appears to signal a tempering of the administration’s approach to a “potential trade war”, which has historically led to increased volatility in both the cryptocurrency and equity markets.

Dan Greer, CEO of Defi App, a decentralized finance platform, noted the correlation between Bitcoin’s recent price increase and the news of the tariff adjustments.

“This surge in Bitcoin’s price coincides with reports that the Trump administration is considering narrowing the scope of tariffs set to take place on April 2, and rolling back the sector-specific tariffs that were set to be announced this week,” Greer stated.

Indeed, the crypto market has seen positive momentum, with nearly all of the top 10 cryptocurrencies by market capitalization realizing gains on Monday.

While Bitcoin is showcasing strength with a 3% rally from $84,000 to $88,600 in 24 hours, altcoins like Solana, DOGE and Cardano are outperforming.

Worldcoin (WLD) is also not far behind with a 3.9% price increase. As the stock market continues its rally, both the Nasdaq and S&P 500 indices have seen a 2% rise.

Expert Insights On BTC’s Recent Fluctuations

Further elaborating on the economic implications, Greer highlighted that this development has alleviated some market uncertainties, leading to increased investor confidence across both cryptocurrency and equity markets.

The crypto sector, which has seen mixed reactions since Trump took office, has been particularly sensitive to the administration’s economic policies.

The administration’s new focus on reciprocal tariffs signals a potential shift in strategy. Initially, the administration planned to announce a broader scope of tariffs, which would have seen an increase in the prices of foreign goods.

This could ultimately contribute to inflation in the US.

But in a surprising turn of events, the president may now be pivoting towards a narrower approach.

According to reports from both Bloomberg and the Wall Street Journal, which cite anonymous sources, President Trump is now considering a more limited scope for the tariffs that are set to take effect on April 2.