Bitcoin Surges 15% to $85,900 After Trump's Tariff Exemption

Bitcoin experienced a significant surge, reaching a high of $85,900, following President Trump's decision to exempt several technology products from tariffs. This move, which includes critical items such as smartphones, laptops, and computer chips, represents a substantial alteration to the previously announced 125% tariff on imports from China. The U.S. Customs and Border Protection indicated that this exemption, valued at approximately $390 billion, aims to provide U.S. companies the necessary timeframe to shift manufacturing back home.

The implications of this tariff relief are substantial for the tech sector, particularly for giants like Apple and Nvidia, which rely heavily on Chinese production. Analysts had cautioned that existing tariffs would dramatically inflate electronic prices, with projections suggesting potential prices for iPhones could escalate to $3,500. Following Trump’s announcement, the tech market’s outlook improved, alleviating some pressures on both tech stocks and the cryptocurrency market.

Subsequently, Bitcoin surged to a high of $85,900, reversing its earlier volatility seen throughout April. The recent trading week recorded an unprecedented $840.8 billion in trading volume, marking a new benchmark for 2025. As the market participants adapt to these developments, there is a palpable shift towards a more bullish sentiment across social media platforms, suggesting potential rebounds in tech equities and cryptocurrencies alike.