US Pauses Tariffs, Stocks Surge 10% as Crypto Gains Traction

In a significant development, the United States has announced a pause on tariffs, leading to a historic rally in stocks. This decision has sparked a renewed interest in cryptocurrencies, with some analysts suggesting that digital assets may emerge as winners in the ongoing trade war. The pause on tariffs has been met with optimism, as it provides a temporary respite from the escalating tensions between major economies. This has led to a surge in stock markets, with investors showing renewed confidence in the global economy.

According to VanEck, China and Russia are increasingly settling some of their trades in Bitcoin (BTC), highlighting the growing acceptance of cryptocurrencies in international trade. This trend is expected to continue, as the weak Yuan is likely to drive BTC prices higher, according to Arthur Hayes. The correlation between Bitcoin and global M2 money supply is also returning, as noted by Raoul Pal, indicating that cryptocurrencies are becoming more integrated into the global financial system.

The regulatory environment for cryptocurrencies is also evolving. The Senate has confirmed pro-crypto Gary Gensler as the new Chairman of the Securities and Exchange Commission (SEC), a move that is expected to bring more clarity and support for the crypto industry. The SEC has also approved options trading on Ethereum (ETH) ETFs, further legitimizing the use of cryptocurrencies in traditional financial markets. Bitwise, a leading crypto asset management firm, has doubled down on its prediction that BTC will reach $200,000, citing the growing institutional interest and regulatory clarity.

Meanwhile, the World Food Program USA has announced that it will now accept cryptocurrencies as a form of donation, highlighting the humanitarian potential of digital assets. 21Shares, a Swiss-based ETF provider, has filed an S-1 for a Dogecoin (DOGE) ETF, indicating that the demand for crypto-based investment products is on the rise. Ethereum developer Virgil Griffith has been released from prison, marking a significant development in the ongoing legal battles surrounding cryptocurrencies. Pakistan is turning to Bitcoin mining with its surplus power, while Ukraine has proposed a tax structure for cryptocurrencies, indicating that more countries are recognizing the potential of digital assets.