BTC/USD: Bitcoin Turns Up to Regain $93,000 as Traders Hope for Broad Tariff Reprieve

Trump said Wednesday he’s delaying tariffs on autos coming from Mexico and Canada. Will the same happen to other goods as well? 👊 Bitcoin Jumps Above $93,000Bitcoin prices $BTCUSD rushed to reclaim the $93,000 Thursday morning from a Wednesday low of $86,500 per token. The underlying reason was an optimistic outlook on tariffs — hopes of widespread exemptions surfaced after Donald Trump granted a one-month delay on cars coming from Canada and Mexico. The early-session swing extended a volatile week that kicked off Sunday with the announcement of whipping up a with a bunch of coins. Also, Friday is the White House crypto gala with some major news expected to drop. 🎨 Broad Swipe on MarketsDigital assets broadly enjoyed a lift this morning. The total market cap of the crypto space was floating around the $3 trillion handle, up about 4% over the past 24 hours. Ethereum $ETHUSD, the second-largest token, was up by about 5% this morning, hovering near $2,300 a piece. Other more popular tokens also made some good progress after getting beat down earlier in the week. Solana $SOLUSD was up about 4% to trade near $150. XRP $XRPUSD hit the $2.50 mark, up 3%. 👋 Tariffs and Crypto: What’s the Deal?Why are tariffs affecting the crypto market? While not directly tied to the digital asset space, tariffs have the potential to dim the outlook for growth and knock the valuation of risk assets. Extra charges make imported goods more expensive for those who receive them, not for those who sell them. The idea behind a tariff is to stimulate homegrown products. And the adverse effect is a global trade war with the potential to upend cash flows, hurt international exchange and tone down investor appetite.