From Yahoo Finance: 2025-03-24 12:35:00

Bitcoin has risen 3% in the past day following news of potentially less severe U.S. tariffs on trading partners. This positive development has also boosted other cryptocurrencies like Ethereum, XRP, and Solana, with the stock market indexes Nasdaq and S&P 500 up 2%.

The market has been under pressure due to Trump’s tariff policy, causing economic uncertainty. Bitcoin fell from $109,000 to $78,000 this month amid fears of a recession. However, the recent news of narrower tariffs has increased investor confidence, leading to positive responses in both crypto and equity markets.

Investor relations manager Colin Closser from Exodus expects volatility in markets during times of change and stress. He is unsurprised by the crypto market’s reaction to Trump’s aggressive policies, noting that emotions and volatility are common during periods of economic uncertainty.

This story has been updated with additional comment from the White House on March 24, 2025. For more information on this topic, visit Fortune.com for the original feature.

Read more: Bitcoin jumps 3% on reports that Trump will opt for fewer tariffs than expected