Bitcoin Surges to $83K as Crypto Market Capitalization Reaches $2.7 Trillion

The cryptocurrency market experienced a significant rebound, with total market capitalization rising to approximately $2.7 trillion, fueled by President Trump's unexpected 90-day pause on new tariffs. Bitcoin surged over 8% to reach as high as $83,425, while Ethereum and XRP also posted gains of around 13%. Analysts noted a bullish trend, with Bitcoin forming a double bottom pattern, suggesting potential for further price increases, possibly up to $87,000. The S&P 500 and other stock indices similarly rallied, marking their strongest gains in years amid the easing trade tensions. However, some experts cautioned that the relief may be temporary, as existing tariffs remain in effect and structural market challenges persist. Overall, the market's volatility reflects mixed investor sentiment as they react to geopolitical developments.