Crypto majors are green and rebounding after Trump pivoted on EU tariffs; BTC +2% at $89,900; ETH +2% at $2,995, SOL +2% at $130; XRP +3% to $1.94. CC (+15%), SKY (+11%) and SAND (+10%) led top movers
Market shakes off tariff gloom with rebound
The cryptocurrency market surged after President Trump pivoted on EU tariffs, with major tokens posting broad gains. Bitcoin climbed back to the $89,900 range, Ethereum held above $2,995, and Solana broke through the $130 level, as market sentiment improved markedly.
Ripple's XRP led this rally, posting a 3% single-day gain to $1.94. Bitcoin rose 2%, Ethereum gained 2%, and Solana held steady with a 2% increase. In the meme coin space, CC, SKY, and SAND stole the spotlight with gains of 15%, 11%, and 10% respectively, becoming the focal point of the market.
However, the rebound came at a cost. Market data shows the cryptocurrency market saw over $1 billion in liquidations, indicating many traders were caught in the volatility.
On another front, cryptocurrency custody and wallet services provider BitGo announced its IPO plans, with a valuation of $2.1 billion, reflecting growing demand for institutional-grade cryptocurrency services. Meanwhile, the Solana ecosystem saw SKR token valuations soar 250%, demonstrating that interest in emerging projects remains undiminished.
Analysts noted that tariff policy uncertainty remains the market's biggest variable, recommending investors closely monitor the Trump administration's subsequent trade policy trajectory.
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