Cancellation of Customs Tariffs Boosts Bitcoin
Bitcoin rose following positive earnings from chip company Nvidia and increasing risk sentiment after a federal court blocked President Trump's comprehensive customs tariffs.
Nvidia reported an increase in quarterly revenue despite the restrictions imposed by the US on sales to China.
The International Trade Court ruled that Trump did not have the authority to impose comprehensive customs duties on nearly every country.
Nvidia's performance is also helping to "balance concerns about the new restrictions the US has placed on semiconductor exports to China." However, Bitcoin's gains remained limited as the recent Fed minutes indicated that it is not in a hurry to lower interest rates.
Bitcoin rose by 0.65% to $108,027.
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