Bitcoin Surges Past $87K as Markets Rally on Softer Tariff Tone and Strong US Data

Bitcoin Surges Past $87K as Markets Rally on Softer Tariff Tone and Strong US Data

Bitcoin and other leading cryptocurrencies climbed on Monday, buoyed by easing investor concerns over U.S. trade policy and renewed confidence in the broader economy.

Bitcoin surged 3.29% over the past 24 hours, reaching $87,033 as of 2:50 a.m. ET — its highest level since March 7, according to The Block’s pricing data. Ether also saw a healthy gain of 3.2%, crossing the $2,000 threshold to trade at $2,066.

Other major digital assets followed suit: XRP rose 3% to $2.46, and Solana jumped 5.6% to $138. The GMCI 30 Index, which tracks the top 30 cryptocurrencies, recorded a 3% rise in the same period.

“The crypto market is responding positively to Trump’s more conciliatory tone on tariffs, set to be implemented on April 2, and to the Fed’s continued emphasis on managing long-term inflation,” said Vincent Liu, Chief Investment Officer at Kronos Research.

In recent weeks, crypto markets have mirrored the volatility of equities, declining steadily amid uncertainty over Trump’s proposed tariff measures, which targeted both U.S. allies and rivals. This alignment with traditional markets has heightened investor anxiety.

However, according to Bloomberg, the White House is now considering a more “targeted” and less sweeping approach to implementing the tariffs, a shift that has brought some relief to the markets.

The latest rally in crypto also reflects optimism fueled by solid economic indicators. Last week’s jobless claims edged up slightly by 2,000 to 223,000, signaling continued resilience in the U.S. labor market. Meanwhile, February’s Consumer Price Index showed inflation easing to 2.8%, suggesting progress in containing price pressures.

“Macro commentary has often been more cautious than reality, and we believe the underlying fundamentals of the economy remain stronger than many expect,” said Augustine Fan, Head of Insights at SignalPlus.

Still, the looming tariff implementation could spark renewed volatility, particularly across risk assets like cryptocurrencies.

“Markets dislike uncertainty, and with reciprocal tariffs around the corner, we may see choppy trading as participants reassess risk,” said Rachael Lucas, Crypto Analyst at BTC Markets.

Lucas warned of a possible “knee-jerk” reaction from traders once the tariffs take effect, with the longer-term market impact hinging on how extensive and prolonged the measures turn out to be.

“In the near term, a stronger dollar amid trade tensions could put additional pressure on crypto,” Lucas said. “But if the market perceives the tariffs as a strategic move within broader negotiations and tensions begin to cool, we could see a rebound rally that supports digital asset prices.“