February 4th Today's Cryptocurrency Prices: Bitcoin and Altcoins Rise After Trump Suspends Tariffs
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Due to Donald Trump suspending tariffs on Canada and Mexico, cryptocurrency prices have risen today. BTC and altcoins are primarily on an upward trend.
Highlights
As Donald Trump has recently suspended import tariffs on Canada and Mexico based on a newly reached agreement, BTC and altcoins have begun to recover. However, tariffs on China remain unchanged. Trump's new order to create a sovereign wealth fund has further bolstered overall market optimism.
After U.S. President Donald Trump recently announced a 30-day suspension of import tariffs on Canada and Mexico, cryptocurrency prices have shown signs of recovery today. In a broader market rebound, Bitcoin (BTC) has restored its value, reaching a high of $102,000. Leading altcoins such as Ethereum (ETH), XRP, and Solana (SOL) have risen over 10% during the session. Meanwhile, meme coins have also shown significant upward trajectories, with DOGE, SHIB, and PEPE surging nearly 20%.
With Trump suspending tariffs, cryptocurrency prices have risen today.
It is worth noting that with Donald Trump's recently announced 30-day suspension of import tariffs on Canada and Mexico, the cryptocurrency sector is showing overall signs of recovery. In turn, the trade war that previously triggered has now calmed down globally, and market sentiment has improved.
The U.S. has reached an agreement with Canada and Mexico, primarily targeting areas such as border enforcement, drug cartels, and combating organized crime. Canadian Prime Minister Justin Trudeau posted on X stating, "The proposed tariffs will be suspended for at least 30 days." However, it is important to note that tariffs on China remain unchanged.
As a result, cryptocurrency prices rebounded on Tuesday, marking one of the fastest trade wars in history. The global cryptocurrency market cap surged 8.46% during the session, reaching $3.32 trillion.
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