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April 13, 2025

Bitcoin hits $84.9k as tariff exemptions spark crypto rise

Bitcoin hits $84.9k as tariff exemptions spark crypto rise

Bitcoin (BTC) climbed 1.5% to $84,900 on Saturday, attempting to end a three-month downtrend after the Trump administration excluded key tech imports — including smartphones and chips — from new reciprocal tariffs.

The U.S. Customs and Border Protection’s exemptions are seen as a trade war concession, easing market fears.

Analysts like The Kobeissi Letter suggest bond market pressure may be influencing the shift in policy.

BTC is now testing a breakout above its descending trendline from recent highs, signaling possible bullish momentum.

Major altcoins also surged: Ethereum (ETH), XRP, and Cardano (ADA) each rose by 6%, reflecting growing investor risk appetite.

Vanguard News