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Crypto and stock prices have risen in the past hour after US President Donald Trump has announced a 90 -day break for rates in several countries, except China. Bitcoin (BTC), the flagship Crypto, is now looking at the barrier of $ 83,000 after jumping 6.1% after the news.
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Trump authorizes 90-day break over rates
In a truth social afterPresident Trump announced that he increased China rates to 125% “effect immediately” due to a “lack of respect” shown to the world markets. This step follows China’s recently announced mutual 84% rate percentage on American goods, from 10 April.
“Based on the lack of respect that China has shown to the world markets, I am hereby the rate imposed by the United States of America to China to 125%, immediately in force. At a given moment, hopefully in the near future, China will realize that the days of tearing away the US and other countries are no longer sustainable or acceptable,” explained. “
In The Wednesday Post, The US President also revealed he had Authorized A “90 Days Pause” For Other Countries, AS 75 Nations Reached Out to Multiple US Representatives, Including The Departments of Commerce, TREASTOTY, TRADE SULTTOTY, TESTOTURAATE Discussed Relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Nonetary Tariffs. ”
Moreover, he authorized an immediately reduced mutual rate of 10% during the 90-day break. In a second message, the president stated: “This is a good time to buy.”
After the news, stock prices rose, with the S&P 500 (SPX) increasing since the announcement about 6%. In the meantime, the cryptomarkt saw its total market capitalization rise by around 5%, with assets such as Bitcoin, Ethereum (ETH), XRP and Solana (SOLAN) increase by 6%-12%in an hour.
Bitcoin price rises to $ 82,000
The Crypto flagship climbed from $ 76,000 $ 77,000 to the $ 82,000, and threw this level back for the first time since Sunday. The 6% increase has led to optimism among investors, who falls Bitcoin to a five -month low in the weekend.
BTC fell almost 10% between Sunday and Monday, fed by the current rate war. In the midst of the correction, Bitcoin hit the $ 74,000 support zone for the first time since November.
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On Monday, BTC also saw a brief recovery of the barrier of $ 80,000 after large media reported that the White House considered a 90-day break over rates. However, the cryptocurrency erased the most profit after the news became fake.
According to online reportToday’s increase caused $ 75,000,000 in Bitcoin shorts that was liquidated in the last 60 minutes.
Bitcoin is currently acting at $ 82,444, a decrease of 4.1% in the weekly period.
Featured image of unsplash.com, graph of TradingView.com