Bitcoin and Crypto Stocks Rally Ahead of Trump’s ‘Liberation Day’ Tariff Announcement
Risk assets, including cryptocurrencies, are showing signs of recovery as speculation grows that President Donald Trump’s upcoming tariff announcement may not be as severe as initially feared.
On Tuesday afternoon, Bitcoin (BTC) surged to over $85,000, reflecting a 2.1% increase over the past 24 hours. Other major cryptocurrencies, which had been struggling recently, also made significant gains, with Ether (ETH), Dogecoin (DOGE), and Cardano (ADA) showing roughly double that percentage increase.
The positive sentiment extended to crypto stocks, as well. Bitcoin miners Core Scientific (CORZ) and CleanSpark (CLSK) saw their shares rise by nearly 10%, while Strategy (MSTR) climbed 5.4% and Coinbase (COIN) gained 2.1%.
U.S. equities also turned around after an initial dip, with the Nasdaq edging up nearly 1% as the day progressed.
The market movement comes ahead of President Trump’s much-anticipated “Liberation Day” tariff announcement, scheduled for after the U.S. market close on Wednesday. The tariff rollout has been a point of concern for many, but a report from NBC News suggests that the worst-case scenario — a blanket 20% tariff across all goods — is now considered “less likely” by the White House. Instead, there are indications that a “tiered system” with different rates depending on the country or product may be adopted.
Adding to the optimism, White House Press Secretary Karoline Leavitt addressed market concerns during her daily briefing. She acknowledged the volatility caused by tariff discussions and said that the administration is aware of the potential impact on the market.
Meanwhile, in an unrelated development, Israel’s Finance Minister, Bezalel Smotrich, revealed that the country has launched a process to eliminate tariffs on U.S. imports, signaling a shift in international trade dynamics.
As market participants await Trump’s announcement, the combination of reduced tariff fears and broader market optimism is fueling the current rally in both cryptocurrencies and stocks.
