Easing of the U.S.–China Tariff War Brings $180 Billion Back to the Crypto Market
Global cryptocurrency markets surged on Sunday, adding $180 billion in market capitalization after panic over the U.S. tariff policy toward China appeared to subside.
By the evening of October 12, the total value of all cryptocurrencies reached $3.97 trillion, up from $3.69 trillion a day earlier.
Global crypto market capitalization chart. Source: CoinMarketCap
Leading the recovery were Bitcoin (BTC), which rose 2.6% to surpass $114,000, and Ethereum (ETH), which gained nearly 10.3% to $4,139. Binance Coin (BNB) also saw a strong increase of 12.34% to $1,297, while Solana (SOL) climbed 6.19% to $195. XRP added 4.9%, trading around $2.53.
The crypto market crash earlier in the week was widely attributed to U.S. President Donald Trump, who once again pledged to impose 100% tariffs on Chinese goods. Investors initially panicked, but sentiment eased on Sunday after Trump said he intended to help China.
This “misunderstanding” led to the largest crypto liquidation event in history, which some estimates suggest also reduced the S&P 500 market capitalization by $2.5 trillion.
Many analysts now believe the correction will be short-lived, a view supported by the rapid rebound of the cryptocurrency market.
See also: "Bitcoin Price Today: Rises to $115K After $19B Market Meltdown Triggered by Trump Tariffs"
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