Bitcoin Skyrockets to 105K as US Temporarily Cuts Tariff 145% to 30% for 90 Days

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 China

The 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 Confidence

Simultaneously, 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.