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The Coin Rise 2025-02-04 08:32:45

Crypto Markets Rally as US Pauses Tariff Plans with Canada and Mexico

Crypto Markets Rally as US Pauses Tariff Plans with Canada and Mexico

The crypto market rebounded sharply after a decision by US President Donald Trump to temporarily suspend proposed tariffs on imports from Canada and Mexico . The move came after a phone conversation with Canadian Prime Minister Justin Trudeau, who confirmed that the 25% tariff threat would be paused for at least 30 days. Mexico’s President Claudia Sheinbaum announced a similar suspension on the Mexican side, emphasizing efforts to bolster security along shared borders and negotiate improved trade terms. Trudeau highlighted Canada’s $1.3 billion plan to enhance cross-border cooperation, including deploying helicopters and additional personnel at the US-Canada border. Mexico echoed the commitment, with Sheinbaum noting that security and trade measures would begin immediately. Crypto Market Sees Major Recovery The announcements triggered swift positive movements across the cryptocurrency market. Bitcoin soared past the psychological $100,000 mark, climbing to $101,731 after dipping to $92,000 just a day earlier, according to CoinMarketCap. At the time of writing, BTC is trading around $98,600, up by 3.5% in the past 24 hours. Investor sentiment also saw a marked shift, as the Crypto Fear & Greed Index surged to 72, signaling a move from fear to greed territory. The market recovery underscored renewed optimism among traders following a day of intense uncertainty sparked by Trump’s initial tariff threats. Pav Hundal, lead market analyst at Swyftx, attributed the rebound to market relief. “We witnessed a complete recovery across several digital assets once the tariff suspension was announced. Investors were seeking refuge from the uncertainty but now appear both relieved and optimistic,” Hundal noted. Sean Dawson, head of research at decentralized protocol Derive.xyz, added that Trump’s executive order directing the US to explore establishing a sovereign wealth fund could further bolster the digital asset space. “If executed, this move signals a bullish stance on digital assets, especially with Commerce Secretary nominee Howard Lutnick being a strong industry advocate,” Dawson said. Future Market Outlook Hinges on Trade Stability Despite the current optimism, market experts urge caution. Trump himself indicated that the tariffs could still be imposed if negotiations falter. Chris Chung, founder of Solana swap platform Titan, believes the market overreacted to the initial announcement . “Digital transactions aren’t tariffed, so the immediate impact on crypto was minimal,” he said. Chung speculated that prolonged tariffs could inadvertently drive more capital toward digital assets. “If tariffs lead to inflation and weaken home currencies, USD-denominated stablecoins and cryptocurrencies like Bitcoin could see increased demand,” he added. The post Crypto Markets Rally as US Pauses Tariff Plans with Canada and Mexico appeared first on TheCoinrise.com .

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