Bitcoin (BTC) experienced a 3% surge, climbing from $84,000 to $88,600 in the last 24 hours, driven by reports that upcoming US tariffs, due on April 2, may be less severe than initially anticipated. This news tempered fears of a potential trade war, which had previously unsettled markets and caused Bitcoin to drop 17.6% from its January peak.
While Bitcoin saw gains, altcoins like Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) outperformed, rising 8%, 7.8%, and 4.5% respectively. The broader cryptocurrency market reflected this optimism, with the meme sector up 5.6% on average. AI tokens also remained stable, with NEAR protocol up 14% in the last week.
The potential for milder tariffs has boosted market optimism, with investors returning to riskier assets. However, Bitcoin has since seen a slight pullback to around $86,930, with support between $83,000 and $84,000.