In a significant move, former President Donald Trump declared that he has authorized a 90-day suspension of tariffs on countries that have not retaliated against the United States. This decision has sent ripples through the financial markets, particularly in the realm of cryptocurrencies. However, it is important to note that this pause does not apply to China, which continues to face increased tariff burdens.

Trump shared this announcement on Truth Social, a platform he frequently uses to communicate directly with his supporters and the public. He stated that during this 90-day period, the reciprocal tariff rate would be substantially lowered to 10% for all countries that do not impose tariffs on U.S. goods. In stark contrast, he indicated that tariffs on China would see a dramatic increase, now set at an eye-watering 125%, effective immediately. This dual approach highlights the ongoing trade tensions between the U.S. and China, which have been a critical aspect of Trumps economic policy.

The announcement had an immediate impact on the cryptocurrency market. Bitcoin (BTC), which had been hovering around the $77,000 mark throughout much of the U.S. trading session, experienced a significant surge following Trump's announcement, climbing over 5.5% to surpass $81,000 within 24 hours. This upward trend was not isolated to Bitcoin alone; major alternative cryptocurrencies also saw impressive gains.

Among these altcoins, XRP, Solana's SOL, Avalanche's AVAX, Chainlink's LINK, Hedera's HBAR, and SUI all registered increases of over 10% as reflected in the broad-market CoinDesk 20 Index. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, rose to $1,600, marking an 8% increase during the same timeframe. The overall bullish sentiment in the cryptocurrency market suggests that investors are responding favorably to the perceived easing of trade tensions.

The stock market mirrored this positive sentiment, with U.S. stocks experiencing a notable uptick. The Nasdaq index rose by 7%, while the tech-heavy S&P 500 climbed by 8.8% through the day's session. These movements reflect investor optimism and confidence in the potential for economic growth amid the tariff changes.

Earlier in the day, Trump hinted at this positive market sentiment with a post that encouraged his followers, stating that it was a great time to buy. This statement, coupled with the tariff delay, seems to have signaled a more favorable outlook for investors, leading to increased trading activity across various asset classes. As the financial world responds to these developments, all eyes will be on how these tariff policies evolve in the coming months and what implications they may have for the U.S. economy moving forward.