Original | Odaily (@OdailyChina）
Author | Asher (@Asher_0210）
The U.S. tariff policy is experiencing a new turn. This morning, Trump announced that after actively consulting with over 75 countries on trade, currency, and tariff-related matters, he decided to implement a 90-day tariff "suspension period" for these countries, during which tariffs will be significantly reduced to 10%, but will immediately impose 125% tariffs on China. Under such a tariff policy change, U.S. stocks and cryptocurrency markets simultaneously surged.
OKX real-time market data shows that around 8:00 today, BTC peaked at $83,500, currently trading at $82,600, with a 24-hour increase of 8.23%;
Beyond BTC, ETH peaked at $1,680, currently trading at $1,670, with a 24-hour increase of 13.27%; SOL briefly broke through $120, currently trading at $119, with a 24-hour increase of 12.60%;
Other mainstream Altcoins also saw significant increases. Among the top 100 cryptocurrencies by market cap, HYPE broke $14, with a 24-hour increase of 25.9%, currently at $14.01; S broke $0.5, with a 24-hour increase of 24.9%, currently at $0.5002; PEPE broke $0.000007, with a 24-hour increase of 17.5%, currently at $0.00000702;
In the U.S. stock market, all three major indices closed higher, with the Dow Jones rising 7.87%, the largest single-day gain since March 24, 2020. The S&P 500 rose 9.52%, the largest single-day gain since October 28, 2008. The Nasdaq rose 12.16%, the largest single-day gain since January 3, 2001, and the second-largest in history. The Russell 2000 rose 8.66%, the largest single-day gain since March 24, 2020;
Influenced by the overall market uptrend, the total cryptocurrency market cap rapidly increased. CoinGecko data shows the total market cap has exceeded $2.7 trillion, with a 24-hour increase of 6.2%;
In derivatives trading, Coinglass data shows that over the past 24 hours, total liquidations reached $589 million, with long liquidations at $214 million and short liquidations at $375 million. By cryptocurrency, BTC liquidations were $235 million, and ETH liquidations were $167 million.
Santiment: Market Reacts Intensely to Tariff News, Temporary Relief for Ongoing Issue
Blockchain analysis platform Santiment analysts stated that although the latest "tariff suspension" policy is a positive message and temporarily alleviates some market tension, it remains a temporary relief for a continuing problem. Just 48 hours ago, the market experienced a "buy the rumor, sell the fact" reaction to a false report about tariff suspension, followed by the United States announcing on Tuesday tariffs of up to 104% on Chinese goods, which undoubtedly further intensified market disappointment.
Analysts pointed out that the current fundamentals remain unclear and unreliable, with the market more dependent on public greed and fear as a reverse indicator. In these unprecedented times, the market's overreaction to tariff news has become a signal worth close attention.
Grayscale Research: Tariffs Trigger Stagflation Impact, Potentially Positive for Bitcoin
Grayscale Research Director Zach Pandl stated, "Tariffs bring a stagflation impact. Stagflation is usually unfavorable for traditional asset returns, but potentially beneficial for scarce commodities like gold and possibly Bitcoin."
Currently, despite some positive short-term news that has alleviated some market sentiment, the ongoing uncertainty of tariff issues continues to put pressure on the market.
