Trump’s Tariff Pause Ignites Crypto Rally: ETH and SOL Soar
President Donald Trump’s announcement of a 90-day tariff pause has sent the crypto market soaring.Ethereum (ETH) and Solana (SOL) are leading the charge, with both seeing critically important price increases.
Ethereum, which was trading under $1,500, has now risen above $1,650, a jump of over 11%. Solana has spiked even higher, with a 13% increase pushing its price above $120. This surge is part of a broader crypto rally sparked by Trump’s tariff news.
Bitcoin (BTC) also benefited from the optimism. After dipping below $80k and retesting levels near $74k, BTC jumped to $82k. This move triggered $92 million in short liquidations within an hour, according to CryptoQuant.com.
Other altcoins, including XRP, Cardano, and Dogecoin, also saw notable upticks. The stock market mirrored this optimism, with the S&P 500 surging over 7% and the Nasdaq up 9%. The Dow Jones Industrial Average spiked more than 2,400 points, its biggest single-day jump in five years.
However, the future remains uncertain. Trump has imposed a 125% tariff on China, which may limit the upside potential. China’s exclusion from the 90-day tariff pause adds to this uncertainty. The next steps from Beijing will be crucial.
