US President Donald Trump declared a 90-day pause of reciprocal tariffs with over 75 countries, sending shockwaves through traditional and crypto markets.
While extending an olive branch to the rest of the world, Trump raised tariffs on Chinese goods to 125% due to China's 'lack of respect' for global markets.
The US stock market added $4 trillion in value within 15 minutes, with the S&P 500 surging nearly 7% due to the tariff pause, indicating a possible cooling-off in global trade tensions.
Bitcoin surged 6.6% to reach $82,000, leading to the liquidation of over $75 million worth of BTC shorts.