BTC Hits $102K as Altcoins Rebound on Trump’s Tariff Pause

The announcement that the proposed tariffs by United States President Donald Trump affecting Canada and Mexico would be deferred for 30 days sparked a bull run in the cryptocurrency market leading to a whopping surge in the price of Bitcoin (BTC) to $102K on February 4th.

Investors regained confidence, and other major altcoins like Ethereum, XRP, and Solana also grew in value by double digits. Meme coins- Dogecoin, Shiba Inu, and PEPE, grew dramatically as well, many of those being almost 20% increase.

We will now examine how the market behaved today.

Crypto Market Recovers as Trump Delays Tariffs

The temporary halt on import tariffs between the U.S., Canada, and Mexico has eased trade war tensions, boosting market sentiment. The U.S. reached agreements with its North American partners on key issues, including border security and organized crime. Canadian Prime Minister Justin Trudeau confirmed the pause on X, while tariffs on China remain unchanged.

With fears of an escalating trade war cooling, the global crypto market cap jumped 8.46% intraday, reaching $3.32 trillion. This marked one of the fastest market recoveries in recent history.

BTC Price Rallies to $102K

Bitcoin (BTC) surged nearly 7% in the past 24 hours, reaching a high of $102,514 before stabilizing at $100,733. The coin had previously dipped as low as $92,767, but strong buying pressure helped BTC recover.

Interestingly, Bitcoin’s market dominance slipped to 60.27%, suggesting that altcoins outperformed BTC during the rebound. This indicates a shift in investor focus toward higher-risk assets following the tariff pause.

Ethereum (ETH) Gains 11% as Market Sentiment Improves

Ethereum mirrored Bitcoin’s gains, surging 11% intraday to trade at $2,803. The coin hit a daily high of $2,919, bouncing back from a low of $2,450.

Adding to ETH’s bullish momentum, Donald Trump’s World Liberty Fund reportedly purchased 1,826 ETH, according to on-chain data from Lookonchain. Furthermore, Eric Trump’s public endorsement of ETH on X fueled additional optimism, encouraging more buying activity.

XRP Jumps 20%, Leading the Altcoin Rally as Solana (SOL) Climbs 9% to $216

XRP recorded one of the biggest gains of the day, rising 20% to trade at $2.71. The token bounced from $2.14, peaking at $2.78. The tariff pause and broader market recovery contributed to XRP’s surge. Additionally, Ripple’s ongoing legal progress with the SEC continues to boost confidence in the asset’s long-term potential.

Meanwhile, Solana also saw strong gains, rising 9% intraday to trade at $216. The token fluctuated between $190 and $220, benefiting from the overall bullish sentiment in the crypto space.

Final Wrap Up 

Today’s recovery within the crypto market’s is a clear example of how deeply macroeconomic factors, such as trade policies, interact with cryptocurrencies. With the trade war being put on pause, investors resumed executing their orders, leading to rising prices.

While Bitcoin still holds most dominance, we see a growing trend of altcoins and meme coins beating BTC, which vividly indicates a rise in risk appetite. It is possible to assume that, if the same trend continues then Ethereum and XRP will make new records, while BTC goes to rest above $100K. But, a word of caution is best on this one, because there are situations with tariffs with China that remain unsolved which could change market direction in the short timeframe.