Bitcoin rebounds to $83K as crypto market rides tariff relief optimism
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The cryptocurrency market staged a sharp recovery on Wednesday, buoyed by a wave of optimism following President Trump’s surprise 90-day pause and reduction of reciprocal tariffs. Nearly $250 billion flowed back into spot crypto markets in just 12 hours, lifting total market capitalization by 6% to $2.7 trillion and recovering most of the recent losses.
Bitcoin led the charge with an 8% intraday rally, briefly touching $83,425 before consolidating slightly in Thursday’s Asian session. The asset has returned to its familiar range in the mid-$80K zone, suggesting renewed buying momentum but also a degree of caution. According to technical analyst Rekt Capital, Bitcoin’s bull market structure remains intact. The 21-week exponential moving average is trending downward, currently near $86,500, and may serve as a springboard for a breakout due to its declining slope. In parallel, analyst Mister Crypto drew comparisons with similar setups in 2020, hinting that a significant move higher may be imminent.
The crypto recovery mirrors broader market enthusiasm. U.S. equity indices rallied sharply, with the S&P 500 up 9.5%, the Nasdaq surging 12%, and the Dow Jones climbing nearly 8%. Despite the euphoria, not all voices were optimistic. Peter Schiff labeled the rally a classic “bear market bounce,” warning that the underlying issues — including lingering 10% tariffs — are far from resolved. Meanwhile, Asymmetric founder Joe McCann argued that markets had already priced in tariffs across China, the EU, and other trading partners. With the latest policy pivot narrowing the impact mostly to China, investors are now eyeing the prospect of a U.S.–China deal as the next big catalyst. If that materializes, McCann believes markets — crypto included — could “explode.”
Ethereum also bounced back, gaining 15% to reclaim $1,680 after briefly falling below its 2018 cycle high. Other altcoins posted double-digit gains, with XRP reclaiming the $2 mark and Solana climbing to $120. Dogecoin, Cardano, Chainlink, Avalanche, Hedera, and Sui also joined the rally. Still, much of the altcoin space remains far below its previous highs, and there’s little evidence of a full-fledged “altseason” at this stage.
The mood has clearly shifted, but volatility remains high. With macro uncertainty still in play, the coming weeks will test whether this rebound marks the beginning of a sustainable uptrend or just a sharp relief rally. The market’s next major move may hinge on geopolitical developments — particularly the trajectory of U.S.–China trade relations — and whether policy support translates into lasting investor confidence
Bitcoin led the charge with an 8% intraday rally, briefly touching $83,425 before consolidating slightly in Thursday’s Asian session. The asset has returned to its familiar range in the mid-$80K zone, suggesting renewed buying momentum but also a degree of caution. According to technical analyst Rekt Capital, Bitcoin’s bull market structure remains intact. The 21-week exponential moving average is trending downward, currently near $86,500, and may serve as a springboard for a breakout due to its declining slope. In parallel, analyst Mister Crypto drew comparisons with similar setups in 2020, hinting that a significant move higher may be imminent.
The crypto recovery mirrors broader market enthusiasm. U.S. equity indices rallied sharply, with the S&P 500 up 9.5%, the Nasdaq surging 12%, and the Dow Jones climbing nearly 8%. Despite the euphoria, not all voices were optimistic. Peter Schiff labeled the rally a classic “bear market bounce,” warning that the underlying issues — including lingering 10% tariffs — are far from resolved. Meanwhile, Asymmetric founder Joe McCann argued that markets had already priced in tariffs across China, the EU, and other trading partners. With the latest policy pivot narrowing the impact mostly to China, investors are now eyeing the prospect of a U.S.–China deal as the next big catalyst. If that materializes, McCann believes markets — crypto included — could “explode.”
Ethereum also bounced back, gaining 15% to reclaim $1,680 after briefly falling below its 2018 cycle high. Other altcoins posted double-digit gains, with XRP reclaiming the $2 mark and Solana climbing to $120. Dogecoin, Cardano, Chainlink, Avalanche, Hedera, and Sui also joined the rally. Still, much of the altcoin space remains far below its previous highs, and there’s little evidence of a full-fledged “altseason” at this stage.
The mood has clearly shifted, but volatility remains high. With macro uncertainty still in play, the coming weeks will test whether this rebound marks the beginning of a sustainable uptrend or just a sharp relief rally. The market’s next major move may hinge on geopolitical developments — particularly the trajectory of U.S.–China trade relations — and whether policy support translates into lasting investor confidence