Bitcoin's Remarkable Recovery

After a brief dip below $93,000, Bitcoin has made a significant recovery, crossing the $100,000 threshold once more. This rebound comes in the wake of the United States' decision to delay tariffs on Mexico, a move that has injected a dose of optimism into the cryptocurrency market.

Trade War Tensions Ease

The cryptocurrency market had been experiencing volatility due to the uncertainty surrounding the announced tariffs by US President Donald Trump on Mexico, Canada, and China. The temporary reprieve on tariffs has provided some relief, with Bitcoin jumping 3.51% to $101,140.973 at 2:35 pm ET. Ethereum, however, saw a 4.06% slump, trading at $2,752.7059 shortly after.

Looking Ahead

While the delay in tariffs has offered a temporary boost to Bitcoin, the market remains cautious. The potential for future tariffs on the European Union, as mentioned by President Trump, continues to loom over the market, suggesting that volatility may persist in the near term.