Bitcoin Soars Past $80K as Trump's Tariff Pause Sends Markets into Frenzy

BTC Hits $81K, Nasdaq Surges Amid White House Trade Relief

Holy smokes, Bitcoin just blasted through the $80,000 mark like a rocket while the major U.S. stock indices went wild after President Donald Trump dropped a bombshell about hitting pause on some of those brutal tariffs. Talk about a rollercoaster!

Bitcoin (BTC) was trading above a whopping $81,000 on Wednesday afternoon, and the Nasdaq was on the verge of a 10% gain. The latest announcement from the White House had everyone breathing a sigh of relief after markets were shaken to the core by fears of a never-ending trade war.

In a fiery post on his Truth Social platform, President Trump revealed that several countries were scrambling to negotiate on trade, tariffs, and currency issues. So, he decided to throw them a bone with a 90-day pause on new tariffs and a temporary drop of the existing reciprocal tariff rate to just 10%. Wowza!

But hold onto your hats, because the administration is cranking up the heat on China with tariffs skyrocketing to a mind-blowing 125%, "effective immediately."

Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off...

The 10-year Treasury yield, which had earlier shot up above 4.5%, took a step back to 4.4% after the news broke.

Trump's surprise move came after four days of market chaos triggered by the uncertainty surrounding U.S. trade policy. Earlier this week, stocks took a nosedive in their worst multi-day performance since the Great Financial Crisis as investors freaked out over the possibility of a global recession tied to those escalating tariffs.

Treasury Secretary Scott Bessent stepped up to the plate, announcing he would lead the charge in the upcoming tariff negotiations. Wall Street is breathing a sigh of relief, seeing Bessent's involvement as a calming force, especially compared to the more aggressive stances of Commerce Secretary Howard Lutnick and trade advisor Peter Navarro.

Trump also took to Truth Social early Wednesday to urge investors to "remain calm" and added: "This is a great time to buy." You heard the man, folks!