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The crypto market, led by Bitcoin, has seen a notable recovery following the decision by American President Donald Trump to exempt tech merchandise from the tariffs he imposed on China and other countries. Market participants view this decision as a positive signal amid the ongoing trade war between the United States and China.
The crypto market rose after Trump’s decision to exempt technology merchandise from the mutual tariffs imposed on China and other countries. According to a report published by CNBC, the American president exempted phones, computers, and electronic chips from the new tariffs.
The price of Bitcoin surpassed $85,000 after this report, and other altcoins also recorded significant gains. This development is undoubtedly positive for the crypto market, as it reduces the severity of the tariffs imposed by Donald Trump on most countries at the time.