Bitcoin surges past $80,000 amid tariff policy shift

Bitcoin (CRYPTO:BTC) experienced a significant price surge, surpassing $80,000, following President Donald Trump's announcement of a 90-day tariff suspension on imports from over 75 countries.

This policy change led to a positive market reaction, with Bitcoin rising by over 10% in under 24 hours, reaching approximately $83,000 at its peak.

The suspension of tariffs aimed to ease global trade tensions and stimulate economic growth, which in turn boosted investor sentiment across financial markets.

Major indices like the SP 500 and Dow Jones Industrial Average also saw substantial gains, with increases of more than 9% and 7%, respectively.

Tim Enneking, managing partner of Psalion, noted that Trump's tariff pause was the primary cause of the market surge, as it alleviated concerns about high tariffs, except for China, where tariffs were increased.

This shift in policy not only benefited Bitcoin but also led to notable price increases in altcoins, with some rising between 10% and 30% within a day.

Bitcoin's appeal as an inflation hedge also contributed to its price appreciation, as investors increasingly view it as a safeguard against economic uncertainties and potential currency devaluation.

Despite this uptrend, investors are cautioned about Bitcoin's inherent volatility and the need for thorough research before making investment decisions.

The recent rally highlights Bitcoin's potential role in diversifying investment portfolios amid fluctuations in traditional markets.

However, the cryptocurrency's volatility remains a significant consideration for investors.

As of the latest update, Bitcoin's price has adjusted slightly, reflecting ongoing market dynamics and investor sentiment.

At the time of reporting, the Bitcoin (BTC) price was $81,678.49.