Why Is Crypto Up Today? Bitcoin Breaks $97K Amid U.S. Tariff Shift

The post Why Is Crypto Up Today? Bitcoin Breaks $97K Amid U.S. Tariff Shift appeared first on Coinpedia Fintech News The crypto market is witnessing a powerful breakout as Bitcoin crosses the $97,000 mark , fueling a broad-based rally across digital assets. In the past 24 hours, the global crypto market cap surged by 1.64% to $2.98 trillion , driven primarily by bullish momentum in Bitcoin and Ethereum. Bitcoin exploded by over $3,500 within hours to hit $97,469 , triggering $55 million in short liquidations . The surge was backed by $24.27 billion in trading volume , with Bitcoin now commanding 64% of the total market dominance . Its Relative Strength Index (RSI) remains at a healthy 66, indicating strong buyer interest without entering overbought territory. Why Crypto is Surging? One major catalyst is the renewed optimism over global trade . The U.S. government announced it is restarting trade negotiations with 18 countries—excluding China . Treasury Secretary Scott Bessent confirmed the move, which markets interpreted as a step toward easing economic tensions. The update sparked a short-lived risk rally , contributing to Bitcoin’s squeeze higher. This tariff news indicates a potential shift in U.S. trade policy under Donald Trump’s influence, as he continues pushing for lower interest rates and friendlier economic terms. Government Adoption Boosts Sentiment Institutional interest hit a new high as New Hampshire became the first U.S. state to approve crypto investments for its treasury . Governor Kelly Ayotte signed a bill allowing the state to allocate funds to top-tier digital assets like Bitcoin, marking a new era of state-level crypto adoption . Adding to the bullish tone, Binance founder CZ predicted Bitcoin could hit $500K to $1M this cycle . He cited growing ETF flows, government accumulation, and sovereign adoption by countries like El Salvador and Bhutan as reasons for the upside potential. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Robert Kiyosaki Says Bitcoin Is the Better Investment Not Gold or Silver , Altcoins and Meme Coins Ride the Wave While Bitcoin leads the charge, altcoins are tagging along: Ethereum rose 1.02% to $1,824 Solana added 0.90% to $145.67 BNB gained 0.58% to reach $602.30 XRP stood out with a 1.44% daily jump and 4.46% weekly rise Smaller-cap tokens like LAYER and ALPACA saw explosive 30% gains, while meme coins such as GORK and Fartcoin posted eye-catching spikes on decentralized platforms. Market Outlook: Will the Rally Hold? Total crypto trading volume surged 27.35% to $81.48 billion , indicating renewed market participation despite macro uncertainty. All eyes are now on the upcoming Federal Reserve rate decision , with a 97% probability of no change according to the CME FedWatch Tool .While altseason remains muted—measured by an index score of just 24/100—Bitcoin’s rally toward the $100K psychological mark could be the ignition point. .article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); } .article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; text-align:left; } .article_register_shortcode .media-body h5 span { color: #0052CC; } .article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; text-align:left; } .article_register_shortcode .media-body{ padding-right: 14px; } .article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; width: 20px; margin: 0; display: inline-block; } @media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } } @media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; } .article_register_shortcode img { max-width: 50px; } .article_register_shortcode .media-body h5 { font-size: 16px; } .article_register_shortcode .media-body { margin-left: 0px; } .article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; } .article_register_shortcode .media-button a { float: unset; } .article_register_shortcode .secondary-button { margin-bottom: 0; } } Never Miss a Beat in the Crypto World! 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Ethereum, Solana, BNB, and XRP gained alongside Bitcoin, while small caps like LAYER and meme coins saw double-digit spikes. Will Bitcoin hit $100K soon? With strong momentum, rising ETF flows, and bullish sentiment, Bitcoin is closing in on the key $100K psychological level. How are U.S. trade talks influencing the crypto market? U.S. trade negotiations with 18 countries, excluding China, have boosted market sentiment, contributing to the crypto market recover.