Bitcoin climbs to $100k as cryptocurrencies market recovers

Bitcoin, Ethereum climbed as top cryptocurrencies rebounded strongly Tuesday after sell pressures reduced the value of all major assets in the market. Data showed that the global crypto market cap gained, settling at $3.26 trillion, a 6.35% increase over the last day. Bitcoin has surged by 4% in the last 24 hours, settling at $100,072 at the press time, while Ethereum has gained 7.77% in the same period to $2.826. On Monday, Bitcoin hit a low of $91,441 overnight. While smaller cryptocurrency Ethereum lost nearly a quarter in value since Friday.
U.S. President Donald Trump imposed 25% tariffs on Mexican and most Canadian imports, and 10% on goods from China, starting Tuesday. While China has retaliated, Canada and Mexico agreed to meet Trump’s demand, and this caused delay in tariffs hike implementation for the two countries. Trump’s own cryptocurrency slid below $20 on Monday as trade war rattled the financial markets. The coin was launched shortly before Trump’s inauguration and initially surged, hitting highs above $73.
Today, the total crypto market volume over the last 24 hours is $224.48 billion, which makes a 33.47% decrease. The total volume in DeFi is currently $14.68 billion, accounting for 6.54% of the total crypto market 24-hour volume.
Data from CoinMarketCap.com revealed that the volume of all stable coins printed at $209.43 billion, which is 93.29% of the total crypto market 24-hour volume. Major digital assets were mixed late Monday.  The CoinDesk Market Index, which tracks 124 digital assets, rose 1.6% in the past 24 hours. The Nasdaq 100 and the S&P 500 each shed 0.4% in late trading, while the Dow Jones Industrial Average was down 0.1%. On Monday, Ethereum (ETH-USD), the second-largest digital asset by market value, slid 8% $2,713. XRP (XRP-USD) edged up 1.5%, while Solana (SOL-USD) gained 4%. BNB (BNB-USD) shed 3%. Dogecoin (DOGE-USD) added 0.8%, while Cardano (ADA-USD) lost 3%. The US 10-year Treasury yield stood at 4.541%, down from 4.565% the same time Friday last week, while the five-year yield eased to 4.355% from 4.362%.