Crypto Market Rebounds as Bitcoin Surges on Tariff Exemption News
Bitcoin (BTC) and several key altcoins, including Ethereum (ETH), Ripple (XRP), and Cardano (ADA), saw significant gains over the weekend, signaling a renewed appetite for risk in the cryptocurrency markets.
Bitcoin climbed by more than 1.5%, reaching $84,900 on Saturday as it worked to reverse a three-month downtrend. The price increase followed the Trump administration’s recent announcement of tariff exemptions for certain crucial products, such as smartphones, computers, chips, and electronics. These exemptions, detailed by U.S. Customs and Border Protection, apply to President Trump’s 125% tariff on Chinese imports as well as his baseline 10% global levy.
“The U.S. imports over $60 billion in smartphones annually, and the inclusion of these exemptions underscores a significant shift in U.S. trade policy, particularly in light of the pressures from the bond market,” commented The Kobeissi Letter on X.
Despite the heightened trade tensions between the U.S. and China, where tariffs of over 100% have been imposed on each other’s goods, some parts of the financial markets have begun factoring in the possibility of disinflation in the U.S. This defies the prevailing inflation concerns and suggests that the Federal Reserve might soon have the room to reduce interest rates.
On the technical side, Bitcoin is attempting to break above the descending trendline that has defined its recent decline from the all-time highs above $109K. A breakout above this line could trigger a fresh wave of buying from technical traders, potentially driving the price higher.
Additionally, major altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) saw impressive gains of 6%, indicating a broader shift toward risk-on sentiment in the crypto market. The total market capitalization of stablecoins USDT and USDC remained solid above $200 billion, just shy of record levels.
This positive momentum in the crypto space over the weekend suggests a favorable outlook for traditional markets when U.S. stock markets open on Monday.
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