Bitcoin Soars to $98K as Mexico-U.S. Tensions Ease

Bitcoin Surges Above $98,000

Bitcoin (BTC) has surged above the $98,000 mark, according to market data from HTX. The cryptocurrency is currently trading at $98,409, with a 24-hour decrease of 0.79%.

The sudden rally comes after Mexico agreed to deploy troops to the U.S. border to stop arms and drug trafficking, easing tensions between the two countries. This development has led to a significant shift in market sentiment, with investors becoming more optimistic about the global economic outlook.

Other cryptocurrencies have also benefited from the improved sentiment. XRP surged by 40% from its overnight lows, while ETH and SOL also retraced a part of their losses. Polymarket, a prediction marketplace, now sees an 80% chance that Donald Trump will remove blanket tariffs against Mexico before May, up from 60% earlier today.

U.S. stocks have also narrowed their earlier declines, with the Nasdaq now lower by only 1% and the S&P 500 down by 0.75%. The positive market sentiment is a welcome change from the recent volatility and uncertainty that has plagued global markets.