Bitcoin Surges to $87,103 as Traders Eye Trump’s Crypto and Tariff Plans

Bitcoin rebounded on Wednesday as bargain hunters capitalized on recent losses, while optimism over potential tariff relief from U.S. President Donald Trump fueled risk appetite. The world’s largest cryptocurrency saw volatile swings this week, initially rallying after Trump hinted at a crypto reserve but pulling back as he provided little clarity on his plans.

Bitcoin surged 3.4% to $87,103.8 by 00:51 ET (05:51 GMT). Other cryptocurrencies also followed suit, with Ethereum up 3.8% to $2,175.47 and XRP climbing 4.3% to $2.4222.

U.S. Commerce Secretary Howard Lutnick suggested that Trump may soften tariffs on Canada and Mexico after imposing hefty duties, igniting market optimism. However, Trump, in his congressional address, made no mention of concessions, instead reaffirming his aggressive tariff stance, including additional measures expected by early April.

Bitcoin faced intense volatility over the past week, briefly dropping below $80,000 amid trade concerns. Trump’s announcement of a government-backed crypto reserve, including Bitcoin, initially triggered a sharp rebound. However, the rally faded as key details—such as how the reserve would be structured and funded—remained unclear.

Despite uncertainties, Bitcoin found support from dip-buyers, keeping it above last week’s lows. Investors now await Friday’s White House Crypto Summit, where Trump is expected to reveal more on his regulatory plans.

Altcoins mirrored Bitcoin’s recovery, with Solana (SOL) rising 3.2%, Cardano (ADA) soaring 14%, and Polygon (MATIC) gaining 1.5%. Meme coins also saw gains, with Dogecoin up 2.1% and $TRUMP climbing nearly 5%.

Market focus remains on upcoming policy signals, which could shape the next leg of the crypto market’s trajectory.