Bitcoin's Remarkable Recovery

In a stunning turn of events, Bitcoin has once again surpassed the $100,000 mark. This recovery comes after a significant drop below $93,000, triggered by the uncertainty in the cryptocurrency market due to the looming trade war. The United States' decision to delay tariffs on Mexico for a month has played a pivotal role in this recovery.

Impact of Trade War on Cryptocurrency

The announcement of tariffs by US President Donald Trump on Mexico, Canada, and China had initially caused a ripple of uncertainty across the cryptocurrency market. Adding to the tension, Trump also hinted at imposing tariffs on the European Union. However, the temporary reprieve in the form of a tariff delay has provided some stability, allowing Bitcoin to regain its footing.

Market Reaction

At 2:35 pm ET, Bitcoin experienced a 3.51% jump, selling for $101,140.973. Ethereum, on the other hand, saw a 4.06% slump, trading at $2,752.7059 shortly after. This market movement underscores the volatile nature of cryptocurrencies and their sensitivity to global economic policies.