Bitcoin Skyrockets to 105K as US Temporarily Cuts Tariff 145% to 30% for 90 Days
By: blockchainreporter|2025/05/12 17:15:04
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Bitcoin ($BTC) surpassed $105,000 this Monday, signifying a dramatic bounce back. As per the latest market statistics, Bitcoin’s spike to $105K has resulted from the provisional tariff cuts from the massive 145% to just 30% for the next 90 days. The tariff cuts take place after a remarkable trade deal that China and the United States signed in Geneva.Bitcoin Leads Crypto Market Surge Following U.S. Tariff Cuts and Trade Deal with ChinaThe market data reveals that Bitcoin ($BTC) jumped to $105,000 after the huge tariff cuts by the U.S. for 3 months. Simultaneously, the latest U.S.-China trade deal has also triggered a bullish sentiment across the market. In this respect, speculations are rising about Bitcoin’s potential increase above the existing all-time high price level of up to $109,350.Altcoins Reflect Same Enthusiasm Amid Rising Investor ConfidenceSimultaneously, the altcoins are also showing noteworthy gains amid this wider upsurge. Specifically, the flagship altcoin Ethereum ($ETH), the key memecoin Dogecoin ($DOGE), and Cardano ($ADA) are dominating the market. The exclusive price statistics disclose that Ethereum has climbed to $2,500 after a 39% weekly price rise. Just like that, Dogecoin and Cardano have surged by 56% and 19% respectively.$BTC Eyes $110K as Next Price Target?Keeping this in view, the broader crypto market is expressing a march toward a highly volatile phase as Bitcoin is approaching its ATHs. The growing investor optimism is also paving the way for notable capital inclusion. In the meantime, the market onlookers anticipate $110,000 to be the next price target for the top cryptocurrency.
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