Why Crypto Market Is Up Today: Bitcoin & Solana Rally as Tariff Fears Ease
March 24, 2025
Trump’s Tariff plan has created more damage than SEC’s regulations dropping it to the lowest level of $80K. But now things are changing, Bitcoin, XRP, and Solana saw strong gains early Monday as reports suggested that the upcoming Trump tariffs on April 2 might not be as aggressive as previously feared. This shift in expectations helped improve market sentiment, leading to a rally in both equities and cryptocurrencies.
Following the news, Bitcoin climbed 2.7% in the last 24 hours, trading around $86,500, while Solana (SOL) jumped nearly 6% to $138. XRP also moved higher, rising 2.5% to $2.44, holding above its 50-day moving average after two weeks of positive price action. The rally came as U.S. stock futures, including the S&P 500 and Nasdaq, saw a 0.5% boost, while the VIX, Wall Street’s fear gauge, dropped 2.5%.
Initially, concerns over Trump’s planned tariffs had sent markets lower, with Bitcoin dropping nearly 17.6% in February. However, recent reports indicate that the tariffs could be more targeted than previously expected. Some countries may be exempt, and the additional levies on steel and other metals might not be cumulative. This news has calmed investors, sparking optimism across financial markets.
The Federal Reserve recently updated its outlook, raising inflation expectations but sticking to its plan for two interest rate cuts this year. It also dismissed worries that tariffs would cause lasting inflation, calling the impact temporary. This has boosted confidence in riskier investments like Bitcoin.
Arthur Hayes, co-founder of BitMEX, believes Bitcoin will hit $110,000 before dropping to $76,500 again. He argues that the Fed’s shift from tightening to easing policies will keep the crypto market strong despite inflation fears.
While the news has improved sentiment, analysts warn that unexpected developments or a tougher stance from Trump could still impact markets in the coming days. Crypto expert Peter Schiff criticized Trump’s “Liberation Day” tariff plan, arguing that instead of restoring America’s wealth, it will expose the country’s deep reliance on global productivity and savings. He suggests that the U.S. is no longer as strong as it once was and that these tariffs may highlight economic weaknesses rather than solve them.
All eyes are now on two key events that could shape market sentiment in the coming days. On March 27, the Senate Banking Committee will question SEC nominee Paul Atkins and Comptroller of the Currency nominee Jonathan Gould, potentially signaling regulatory shifts. Meanwhile, Friday’s PCE reading, the Fed’s go-to inflation measure, will offer more insights into future monetary policy.
With tariff worries easing and the Fed staying accommodative, the crypto market is regaining momentum, hinting at more upside in the near term.
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