Bitcoin's Remarkable Recovery

In a surprising turn of events, Bitcoin experienced a significant recovery on Monday, soaring above the $100,000 mark once again. This rebound comes after a period of uncertainty and decline in the cryptocurrency market, primarily due to the looming trade war threats initiated by the United States.

Impact of Tariff Delays

The announcement of a one-month delay in tariffs on Mexico by the United States played a pivotal role in this recovery. The initial news of tariffs had caused Bitcoin to plummet below $93,000, as investors feared the repercussions of a potential trade war with Mexico, Canada, and China. Furthermore, the threat of tariffs on the European Union by President Donald Trump added to the market's volatility.

Market Response

By 2:35 pm ET, Bitcoin had jumped 3.51%, trading at $101,140.973. However, not all cryptocurrencies shared in this recovery, as Ethereum saw a decrease of 4.06%, trading at $2,752.7059 shortly after.