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Bitcoin Price Shortly Rebounds On “Fake” 90-Day Tariffs Pause – Crypto News

Published

7 hours ago

April 8, 2025

Dripp

Bitcoin price has surged for a short period of time above the $80,000 level after posting a minimal gain in the last hour.

The rebound follows a sudden drop that saw BTC drop to as low as $74,000 in the last 24 hours. The price action was during a fake news that President Donald Trump is considering suspending tariffs for 90 days on all countries except China.

Fake Trump Tariff Pause Reports Drive Bitcoin Price Relief

Fake news surfaced Monday suggesting President Donald Trump is considering a 90-day pause on tariffs for all countries except China. This fake news initiated a brief market rally that helped Bitcoin price to cross the $80,000 threshold before retreating to its current price.

The White House has since referred to the reports as “false,” adding to the cloud of uncertainty for the markets. Trump continues to state that his tariffs are necessary for making trade fairer and restoring domestic manufacturing. He singled out China as “the biggest abuser of them all.”

Crypto Market Shows Mixed Recovery

The brief recovery in cryptocurrency prices appears directly linked to this tariff pause news. In the short term, the entire cryptocurrency market has shown signs of recovery, as Ethereum rose to $1,567.92, up 2.04%.

XRP climbed to $1.88, up 4.88%, and Solana rose to $106.84, gaining 4.69% over the past hour. Dogecoin also showed the highest hourly gain among major cryptocurrencies at +5.5%. BNB has posted a 1.49% gain, lagging behind other major altcoins in the current relief rally.

Source: CoinMarketCap

Economic Concerns Persist Despite Price Recovery

Goldman Sachs has issued a new forecast suggesting that a recession has become more likely even if President Trump reverses his tariff policies. The financial firm predicts economic growth will slow substantially due to “a sharp tightening in financial conditions, foreign consumer boycotts, and a continued spike in policy uncertainty.”

These economic concerns remain a backdrop to the cryptocurrency market’s recovery. The 5.64% decrease in global crypto market capitalization over the past 24 hours shows that the hourly gains have not yet erased the overall downtrend.

While the global crypto market nosedived, the 24-hour trading volume has surged by over 400%. As per Alternative data, the overall bearish outlook has also pushed the crypto fear & greed index to extreme fear at 23.

The report was released during a period of notable market volatility, as Bitcoin price and altcoins saw double-digit declines in the past 24 hours and total crypto liquidations surpassed $600 million.