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The cryptocurrency market saw major gains after a U.S. tariff policy shift, with Bitcoin, XRP, Solana, and Dogecoin all posting high price increases.
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Analysts caution that the rally may be short-term, as ongoing market volatility and global trade policy developments could influence future price movements.
The cryptocurrency market saw substantial gains today, April 10, 2025, after U.S. President Donald Trump announced a 90-day suspension of retaliatory tariffs for most countries, excluding China, where tariffs have been increased to 125%.
This unexpected shift had led to a positive market sentiment and triggered bull price movements across major cryptocurrencies.
Price Movements of Major Cryptocurrencies
Bitcoin rose by 7.28%, reaching $82,000, as investor sentiment improved in response to the news of the tariff suspension. XRP also posted a 12.14% increase, initially crossing $2.00 and presently trading for $2.10.
Among the tokens that saw a significant price rise includes Solana, surging by 10.15%, reaching $113.06. Dogecoin price rose to $1.55, an 8.62% jump in price in the last 24 hours.
Market Reactions and Analyst Caution Following Rising Volatility
The recent price fluctuations triggered significant liquidations, with the crypto market losing a considerable amount during the recent volatility.
Bitcoin was responsible for approximately $225 million of these liquidations, in line with its dominant role in the market. The volatility observed today is in line with the cryptocurrency space, particularly in response to major macroeconomic developments.
Although the initial market response is bullish, analysts are warning that these rallies may be part of a bear-market rally and not the beginning of a new bull market.
History suggests that bear markets tend to include several short-term rallies, and it’s too early to assess the sustainability of the current market surge. Traders and investors will be watching closely to see how the market reacts in the days ahead as the implications of the tariff reprieve continue to unfold.
The cryptocurrency market’s rally following the U.S. tariff policy announcement shows investor optimism, with Bitcoin, XRP, Solana, Dogecoin, and several other tokens all experiencing notable price increases.
However, the sustainability of this rally remains uncertain, and developments in global trade policy will likely continue to influence market sentiment in the coming weeks.