US tariff pause against EU sparks bitcoin and crypto rally — CoinDesk

After a volatile weekend, bitcoin and other major cryptocurrencies jumped back up again. On Monday, BTC almost hit $110,000. According to CoinDesk, the market’s sharp fluctuations were driven by Donald Trump's Friday statements on the introduction of 50% tariffs for EU imports from June 1 and the subsequent pause in implementing these measures until at least July 9.

Cardano and Dogecoin have risen by about 3% over the past 24 hours, leading gains among the top ten tokens. At the same time, the US dollar weakened, falling to a multi-month low. Investor demand for such safe-haven assets as gold and treasury bonds also declined, CoinDesk notes.

Meanwhile, Jeff Mei of BTSE characterized the statistics for the past weekend as a textbook example of crypto volatility, where assets can plunge within a few hours but recover losses just as quickly. With Trump’s tariff delay, market sentiment has turned more optimistic, CoinDesk reports.