Bitcoin's Remarkable Recovery

In a dramatic turn of events, Bitcoin has once again crossed the $100,000 threshold, marking a significant recovery after a recent dip below $93,000. This resurgence 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.

Trade War Tensions

The cryptocurrency market has been on a rollercoaster ride, influenced heavily by the looming trade war between the United States and several of its trading partners. President Donald Trump's announcement of tariffs on Mexico, Canada, and China had previously cast a shadow of uncertainty over the market. Additionally, the threat of tariffs on the European Union further exacerbated the situation.

Market Reaction

By 2:35 pm ET, Bitcoin had surged by 3.51%, reaching a price of $101,140.973. However, not all cryptocurrencies fared as well, with Ethereum experiencing a 4.06% slump to $2,752.7059 shortly thereafter.