Bitcoin's Remarkable Recovery

After a significant drop below $93,000, Bitcoin has made a stunning recovery, soaring above the $100,000 threshold once more. This rebound comes in the wake of the United States' decision to postpone tariffs on Mexico for a month, a move that has injected a dose of optimism into the cryptocurrency market.

Impact of Global Trade Tensions

The cryptocurrency market has been on a rollercoaster ride, largely due to the uncertainty surrounding global trade tensions. US President Donald Trump's announcement of tariffs on Mexico, Canada, and China had previously sent shockwaves through the market. Additionally, the threat of tariffs on the European Union has added to the market's volatility.

Market Reactions

By 2:35 pm ET, Bitcoin had experienced a 3.51% jump, trading at $101,140.973. In contrast, Ethereum saw a 4.06% slump, with its value dropping to $2,752.7059 shortly after.