Trump's Tariff Pause Boosts Bitcoin, XRP, Dogecoin

Bitcoin, XRP, and Dogecoin Rebound as Trump Pauses Mexican Trade Tariffs

Bitcoin, XRP, and Dogecoin have all seen significant rebounds following the announcement that President Donald Trump will pause the planned implementation of trade tariffs against Mexico and attempt to negotiate a deal with the country. The price of Bitcoin rose by nearly $4,000 in the span of an hour, reaching as high as $99,605 before cooling to its current level of $99,000. XRP also surged hard, ripping by more than 12% in a single hour and jumping to a current price of $2.62. Dogecoin has also rebounded back to over $0.271 after dumping to $0.216 late Sunday—a nearly three-month low for the original meme coin.

Nearly $2.4 billion worth of crypto positions have been liquidated over the last 24 hours, per data from CoinGlass—although Bybit CEO Ben Zhou claimed on X that those numbers may be well short of reality, based on his platform’s own share of liquidations.

Mexican President Claudia Sheinbaum announced Monday that she spoke with Trump and agreed on a pause to the U.S. tariffs, as well as Mexico’s planned retaliation—and that Mexico will send 10,000 soldiers to the U.S. border to attempt to prevent illegal cross-border drug trafficking and migration.

Trump wrote on his Truth Social platform that the countries "agreed to immediately pause the anticipated tariffs for a one-month period," with negotiations planned with Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick. President Trump added that he hopes to "achieve a 'deal' with Mexico."

Planned trade tariffs against Canada and China are still currently set to go into effect Tuesday.

Risk-on assets? Trump tariffs lead to mass Bitcoin, crypto liquidations

US President Donald Trump has introduced tariffs on major trading partners Canada, Mexico and China, sending markets crashing and painting a doubtful picture for crypto markets. Bitcoin (BTC) slumped below $100,000 on Feb. 2, while altcoins like XRP (XRP) and Cardano’s ADA