Bitcoin surged close to $86,000 on Tuesday, gaining nearly 2% in 24 hours, as investors responded to signs of easing U.S. trade tensions. Former President Donald Trump’s suggestion of tariff exemptions on auto imports lifted market sentiment and contributed to the rebound in digital asset prices.
The flagship cryptocurrency reached a 24-hour high of $85,926, with BTC futures open interest climbing 1%, according to CoinGlass data. Despite this upward trend, Bitcoin’s daily trading volume dropped 6% to $28.58 billion, reflecting cautious optimism among investors.
Trump’s softened rhetoric follows weeks of market turbulence driven by steep tariff proposals. His administration has now exempted smartphones, laptops, and key electronics from tariffs, offering temporary relief and reviving interest in alternative investment vehicles like cryptocurrencies.
However, uncertainty still looms. The administration has not ruled out new tariffs targeting critical sectors like pharmaceuticals and semiconductors. China, in retaliation, maintains tariff rates as high as 125% on some U.S. imports, keeping global trade tensions elevated.
Crypto Investors Return Amid Market Jitters
The combination of geopolitical uncertainty and renewed trade negotiations has once again directed investor focus toward decentralized assets, particularly Bitcoin. A recent uptick in interest coincides with speculation that the U.S. may leverage tariff revenues to build a Bitcoin reserve.
Highlights from the crypto resurgence:
- BTC price up nearly 2% in 24 hours
- Open interest on BTC futures rises 1%
- Volume dips to $28.58B, indicating lower volatility
- Speculation on U.S. Bitcoin reserve gains traction
Adding to the momentum, President Trump recently met with Bitcoin advocate and El Salvador President Nayib Bukele, further amplifying investor sentiment. According to Bo Hines, Executive Director of the Presidential Digital Asset Advisory Committee, the administration is exploring strategies to position the U.S. as a global crypto leader.
$92K in Sight? Analyst Eyes New Highs
With Bitcoin’s resilience back in focus, analysts are weighing the possibility of further gains. Market strategist Michael van de Poppe suggested in a recent X (formerly Twitter) post that a decisive break above $87K could pave the way for targets between $92,000 and $94,000.
As digital assets continue to outperform amid macroeconomic volatility, traders are watching for:
- A confirmed break above key resistance levels
- Continued policy clarity from U.S. trade officials
- Ongoing institutional interest in Bitcoin and blockchain technology
Bitcoin’s near-term trajectory may ultimately hinge on whether Trump’s policy pivot translates into lasting investor confidence or short-term relief. Either way, the crypto market is back in the spotlight.
