Cryptocurrency markets witnessed a dramatic surge following a significant announcement from U.S. President Donald Trump.
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Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana saw huge price jumps over the last 24 hours.
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A post by Trump suggesting it’s “a great time to buy” before the official policy change raised doubts about potential insider trading.
The U.S. crypto market reacts positively as President Trump pauses the tariff war, leading to soaring prices for major cryptocurrencies.
The Impact of Trump’s Policy Change on Crypto Markets
In a post on X (formerly Twitter), Trump stated, “I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%,” signaling a shift in U.S. trade policy.
Following this announcement, not only did the cryptocurrency market skyrocket, but the broader financial sphere also saw a notable uptick. Investors reeling from recent volatility finally experienced a sense of relief.
Trump compounded the excitement by adding, “THIS IS A GREAT TIME TO BUY!!! DJT.” Critics and analysts pointed out, however, that this message was tweeted prior to his earlier statement about tariffs, prompting accusations of potential insider trading from figures like Senator Adam Schiff.
Source: X (Formerly Twitter)
Surging Crypto Prices: A Market Overview
Despite the controversy surrounding Trump’s comments, the cryptocurrency market is currently witnessing significant upward momentum. Investors have observed strong price movements across major assets.
Bitcoin [BTC] jumped from $76,000 to $82,000 in mere hours, while Ethereum [ETH] surged by 16%, reclaiming the $1,680 mark. Additionally, XRP and Solana [SOL] recorded gains exceeding 15%.
Other popular tokens, including Dogecoin [DOGE], Shiba Inu [SHIB], and even novelty coins like Fartcoin [FARTCOIN], also benefited from the market uplift, registering various percentage increases.
Are All-Time Highs on the Horizon?
Regardless of the recent rally, numerous major cryptocurrencies still trail significantly behind their all-time highs. For example, XRP remains down over 45% from its peak, SOL has dipped more than 65%, and DOGE is off more than 80% from its highest valuation in 2021.
This underscores the fact that while public statements can create waves of optimism, it is essential for investors to maintain a critical perspective on market developments.
Conclusion
The cryptocurrency landscape has reacted fervently to President Trump’s recent policy announcements, demonstrating the profound impact of political discourse on market dynamics. While the recent surges are encouraging, investors should remain cautious, as significant skepticism about market sustainability looms amid ongoing volatility.
