- Crypto and related stocks rallied Tuesday on hopes Trump’s tariffs won’t be as harsh as feared.
- Bitcoin rose above $85K, while altcoins like ETH, DOGE, and ADA posted even stronger gains.
- Reports suggest a tiered tariff system may replace the feared blanket 20%, calming market nerves.
Risk assets—crypto included—are showing signs of life on Tuesday, maybe even attempting a rally (finally).
Could be optimism. Or maybe just relief. There’s growing chatter that President Trump’s tariffs, set to drop Wednesday, might not be as harsh as everyone feared.
Bitcoin Bounces, Altcoins Do Better
As of early Tuesday afternoon in the U.S., Bitcoin (BTC) nudged just above $85,000, up 2.1% in the last 24 hours. Not massive, but green is green.
Meanwhile, other major names that’ve taken a beating lately—Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA)—are doing a bit better. Each is logging gains roughly double Bitcoin’s, give or take.
Crypto stocks are riding the wave too. Bitcoin miners like Core Scientific (CORZ) and CleanSpark (CLSK) jumped nearly 10% on the day. Even the usual heavy hitters joined in—Strategy (MSTR) rose 5.4%, and Coinbase (COIN) added 2.1%.
Traditional markets also flipped green, with the Nasdaq clawing out a modest gain—just under 1% after a red start to the session.
Tariff Watch: “Liberation Day” Looms
All this is happening ahead of what the White House is calling “Liberation Day”, Trump’s latest branding for his new round of tariffs. The announcement is expected after markets close Wednesday, so yeah, people are bracing.
But maybe not quite as much now.
A new report from NBC News says the worst-case scenario—a blanket 20% tariff on all imports—is probably not happening. Instead, the White House may go with a tiered approach, or apply different rates to different countries. It’s not confirmed, but even a whisper of moderation seems to be enough to move markets for now.
Also worth noting—this might be the first time the administration has publicly acknowledged the market stress all this tariff talk has stirred up.
Press Secretary Karoline Leavitt addressed it Tuesday during her briefing, saying there were “legitimate concerns” about market volatility tied to the tariff rollout.
Meanwhile… Israel’s Making Its Move
In a related headline, Israel’s Finance Minister Bezalel Smotrich said Tuesday that his government has started the process of eliminating tariffs on U.S. imports—possibly in an effort to dodge blowback from Trump’s upcoming trade crackdown.
Between the market bounce, the cautious optimism, and countries already adjusting their positions… we’ll see what “Liberation Day” really brings.
