Hassan Maishera
TL;DR
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BTC surged above the $80k level on Monday following reports that the U.S. government was considering a 90-day delay on the imposition of tariffs.
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However, the White House denied the report, causing BTC to drop to the $79k region.
BTC Hits $80k as Markets React to Tariff News
The cryptocurrency market was volatile on Monday, with prices of most coins and tokens recovering from the weekend’s dump. Bitcoin, the number one cryptocurrency by market cap, added over 5% to its value in the last 24 hours and now trades above $79k per coin.
The positive performance came after BTC dropped to the $75k region on Sunday. It rallied above $80k during the early hours of Monday following reports that the U.S. government was mulling a 90-day delay on the imposition of tariffs.
However, it sharply fell to the $78k region after the White House denied the reports. Bitcoin is now trading above $79k per coin and remains volatile in the near term.
Bitcoin’s rally caused a market-wide surge, with most altcoins currently in the green. Ether, the second-largest cryptocurrency by market cap, is trading at $1,578 per coin after adding nearly 9% to its value.
XRP and Solana (SOL) are up 10% each, while Dogecoin (DOGE) and Cardano (ADA) added 11% each to their values in the last 24 hours. Thanks to the ongoing rally, the total cryptocurrency market cap has reclaimed the $2.5 trillion level.
