Bitcoin, Ethereum, Solana, Fartcoin: Crypto tokens rally up to 45% as Trump halts tariffs

Crypto markets rallied sharply on Thursday after the US president Donald Trump halted tariffs imposed on most nations for 90 days, which sparked the rally in the equity markets, seen as a much needed breather for the riskier asset classes. Crypto markets mirrored the gains, with select tokens zooming up to 45 per cent in the last 24 hours.

Bitcoin, the largest crypto currency, soared more than 10 per cent from its day's low at $75,754.06 to $83,541 on Thursday in a span of 24-hours, with its total market capitalization hitting the $1.7 trillion mark. Bitcoins over $77.65 billion exchanged hands in the last 24 hours. However, it gave up its gains partially.

The crypto market saw a strong rebound after Trump announced a 90-day pause on reciprocal tariffs, easing investor sentiment, said Alankar Saxena, Co-founder and CTO at Mudrex. The US Senate confirming Paul Atkins as the new SEC Chair also added to the positive momentum, he said.

"Ethereum gained attention as the SEC approved Options on spot Ethereum ETFs, broadening the investment appeal of Ether among institutional traders. If the momentum continues, Bitcoin's rally to $100,000 is back on the table with the next major resistance at $88,600 and support at $80,000," Saxena added.

Other major crypto tokens including Ethereum, XRP, BNB, Solana, Dogecoin, Tron, Cardano and more surged 6-10 per cent during the day. Among other altcoins including Fartcoin, Flare, Sonic and Ondo gained 15-45 per cent in the last 24 hours. However, select tokens like Zcash, Tezos, Toncoin and Four dropped up to 10 per cent for the day.

Bitcoin, Ethereum, and Dogecoin are experiencing a bullish rally, triggered by some encouraging news. Trump's tariff break has given investors confidence, and the SEC's confirmation of Paul Atkins and approval for Ethereum ETFs options trading have provided the critical credibility to the cryptocurrency ecosystem, said Avinash Shekhar, Co-Founder & CEO at Pi42.

"With regulatory clarity continuing to improve and macroeconomic conditions stabilizing, the momentum among top cryptocurrencies implies that we might be witnessing a new era of mainstream adoption and long-term appreciation in the digital asset universe," he said.

The global crypto market cap stood at $2.65 trillion, recording a 7 per cent rise over the last day, suggested Coinmarketcap. The total crypto market volume over the last 24 hours is $159.03 billion, which makes a 23.24 per cent increase in the last one day. Bitcoin’s dominance dropped marginally to 62.53 per cent over the day.

Bitcoin’s rebound highlights the asset class’s growing maturity and investor confidence. A surge in trading volume and the liquidation of nearly $94 million in shorts further signal bullish momentum, said Sumit Gupta, co-founder, CoinDCX. "We are witnessing a pivotal phase in crypto’s evolution into a mainstream investment asset," he said.

US lawmakers seek to speed crypto legislation as DOJ signals retreat on enforcement, said Piyush Walke, Derivatives Research Analyst at Delta Exchange. "Significant drop in monthly IV is evident with the recovery in price in the crypto markets. It is evident that the market is viewing this as tariffs being rolled back and that should lead to some upward price action," it said.