Crypto assets rebound on expectations of Trump's tariff policy 'easing'

Uk Jin

Summary

The cryptocurrency market has recovered its investor sentiment due to expectations of easing President Trump's tariff policies.
After the U.S. and Canada agreed to temporarily suspend tariff measures overnight, the cryptocurrency market showed a significant rebound.
Bitcoin rose 4.91% compared to the previous day, while Ethereum, XRP, and others also recorded mostly upward trends.

The cryptocurrency market has successfully rebounded. Analysis suggests that investor sentiment has recovered due to expectations that President Donald Trump's aggressive tariff policies could be eased through agreements between nations.

As of 6:30 AM on the 12th (Korean time), Bitcoin (BTC) is trading at $82,964, up 4.91% from the previous day. At the same time, most major altcoins also rose, including Ethereum (+4.31%), XRP (6.32%), BNB (+3.80%), and Solana (+7.12).

Expectations of easing U.S. tariff policies are cited as the factor behind today's cryptocurrency market rebound.

Overnight, the United States and Canada announced they would impose high tariffs on each other. First, Ontario, Canada announced it would raise electricity rates to the U.S. by 25% in response to U.S. tariffs, to which President Trump announced retaliatory measures increasing tariffs on all steel and aluminum imported from Canada to the U.S. from the previous 25% to 50%.

However, Ontario subsequently suspended the 25% surcharge on electricity exports to the U.S., and the White House announced that the additional 25% tariff on Canadian steel and aluminum, which was scheduled to take effect on the 12th, would not go into effect. This decision is expected to somewhat ease tensions between the United States and Canada.