Crypto Markets Ignite: XRP Touches $2, Dogecoin Soars 10% After Trump Trade Move

Crypto Markets Surge as Trump’s Tariff Reversal Sparks Risk-On Rally

Bitcoin soared to nearly $82,000 on Thursday, catalyzing a widespread crypto rally after President Donald Trump unexpectedly paused new tariffs on all countries except China, which instead saw its levy hiked to 125%.

The policy reversal eased investor anxiety, boosting both equities and digital assets. XRP and Ethereum (ETH) jumped 12%, while Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and BNB each gained up to 10%. The broader CoinDesk 20 Index climbed 7%, and global crypto market capitalization rose 6%.

The bullish momentum was amplified by over $350 million in liquidations of short futures positions — the most since early March — signaling a potential trend reversal after Bitcoin’s slump earlier in the week to $75,000.

Mid-cap tokens weren’t left behind: Bittensor’s TAO, Sonic (S), and Flare (FLARE) posted outsized gains of up to 30% as risk appetite returned.

U.S. equity markets also rallied sharply, with the Nasdaq 100 jumping 12% and the S&P 500 rising 9.5%, marking the strongest gains since the 2008 financial crisis.

“The market is pricing in optimism around potential trade negotiations and a pause in escalation,” said Jeff Mei, COO at BTSE. “Still, the heightened China tariffs could lead to longer-term structural shifts in global trade.”

HashKey Capital’s Jupiter Zheng noted the crypto market may have found a bottom. “Regulatory tailwinds and macro uncertainty are converging to create a favorable setup for Bitcoin and digital assets,” he said.

While sentiment has flipped bullish, analysts caution that further volatility remains likely — particularly as the effects of the China-specific tariff hike unfold.

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