"Bitcoin Surges Past $100K as Trump Halts Mexico Tariffs"

Bitcoin (BTC) surged past the $100,000 mark as U.S. President Donald Trump agreed to pause threatened tariffs on Mexico for one month. The largest cryptocurrency by market capitalization had been trading below $95,000 earlier in the week amid a broad selloff in equities, sparked by U.S. tariffs on key trade partners such as Canada, Mexico, and China.

However, crypto markets rebounded alongside stocks on news that the U.S. would hold off on imposing tariffs on Mexico after that country agreed to send 10,000 soldiers to help secure the border with the U.S. Shortly after noon, BTC was up 2.24% to $100,083.95.

While many cryptocurrencies have recovered, the price of Ethereum (ETH), the second-largest crypto, remains down 7% on the day and trading at $2,750 per digital token. The drop in ETH continues an ongoing trend for that digital asset and comes as many investors flee risk assets due to uncertainty surrounding a potential global trade war.

Bitcoin's price is down from an all-time high slightly above $109,000 reached on Jan. 20, the day of Trump's inauguration. Most Wall Street firms do not offer ratings or price targets on Bitcoin, but the cryptocurrency's price has risen 43.65% in the last 12 weeks.

Talks of tariffs on U.S. trade partners triggered a sharp downturn in digital assets and significant volatility in financial markets over the weekend and into Monday morning. President Trump announced a 25% tariff on imports from Mexico and Canada, and an additional 10% tariff on China. Immediately following Trump's announcement, Bitcoin (BTC) lost the $102,000 level and plunged as low as $92,776 on Coinbase.

According to crypto data aggregator Coinglass, over $2.27 billion was liquidated, mostly by traders trying to leverage long Bitcoin positions. However, ByBit CEO Ben Zhou estimated that the real amount of liquidations was likely up to four times higher, with over $2 billion liquidated on ByBit alone.

After markets reacted to the