Bitcoin and Other Major Cryptocurrencies Rose After Economic Data from the US! Here are the Details

Investors responded positively to signs that the Trump administration has taken a more moderate stance on reciprocal tariffs and gained confidence from strong U.S. economic data, leading to a rise in Bitcoin and other major cryptocurrencies on Monday.

As Trump's Tariff Concerns Diminish, Bitcoin Surpasses 87,000 Dollars

Bitcoin (BTC) increased by 3.29% to trade at 87,300 dollars, reaching its highest level since March 7. Ethereum (ETH) also gained 3.2%, surpassing the 2,000 dollar threshold and trading at 2,079 dollars.

Other major cryptocurrencies also achieved strong gains:

• XRP (XRP): increased by +%3 to rise to $2.46
• Solana (SOL): increased by 5.6 to reach 138 dollars
• GMCI 30 Index: +3%, tracking the top 30 cryptocurrencies

Markets Recovered with the Decrease of Trade War Fears

According to Bloomberg, the rally occurred as investors digested recent signals from the White House that seem to indicate a more "targeted" approach rather than a broad implementation of the tariffs proposed by Trump.

The softened stance of the administration has alleviated fears of an all-out trade war, providing support for risk assets including cryptocurrencies and stocks.

Kronos Research Chief Investment Officer Vincent Liu stated, "As investors respond positively to Trump's more collaborative stance on customs tariffs that will come into effect on April 2, and the Federal Reserve's focus on long-term inflation trends, the crypto markets are rising."

Economic Data Increases Investor Confidence

Recent economic indicators have reassured investors that the U.S. economy is maintaining its resilience despite concerns over tariff rates. Key data points include:

• US Jobless Claims: A slight increase of 2,000 to 223,000 indicated that the employment market remains strong.
• February Inflation Data: The Consumer Price Index (CPI) indicates that inflation has decreased to 2.8%, which is a positive sign for Federal Reserve policy expectations.