Bitcoin's Remarkable Recovery

After a brief dip below $93,000, Bitcoin has made a significant recovery, soaring above the $100,000 mark once again. This rebound comes in the wake of the United States' decision to delay tariffs on Mexico for a month, a move that has brought some relief to the cryptocurrency market amidst ongoing trade tensions.

Trade War Fears Ease

The cryptocurrency market had been rattled by the prospect of a trade war, following US President Donald Trump's announcements of tariffs on Mexico, Canada, and China. The uncertainty was further compounded by Trump's comments on imposing tariffs on the European Union. However, the delay in tariffs on Mexico has provided a temporary respite, leading to a surge in Bitcoin's value.

Market Reaction

At 2:35 pm ET, Bitcoin experienced a 3.51% jump, reaching a price of $101,140.973. Meanwhile, Ethereum saw a 4.06% decrease, trading at $2,752.7059 shortly after.