Crypto Stocks Rally Amid U.S. Market Surge After Tariff Reprieve

Following President Donald Trump’s declaration of a temporary suspension of global tariffs, cryptocurrency-linked stocks saw significant gains on April 9 as part of a larger surge in U.S. financial markets. Trump’s announcement on Truth Social of a 90-day halt on “reciprocal tariffs,” with a reduced base rate of 10% for the majority of nations—with the exception of China, which was subject to a hike to 125%—caused the late-session market recovery.

With a 24.76% increase to $296.86, MicroStrategy—which was recently renamed Strategy—led the cryptocurrency stock upswing. A significant cryptocurrency exchange, Coinbase (COIN), closed 17% higher at $177.09 in close pursuit. The bullish momentum also helped cryptocurrency mining companies: according to Google Finance, MARA Holdings (MARA) increased 17%, Cipher Platforms (CIFR) increased 16.59%, and Riot Platforms (RIOT) increased 12.77%.

One of the strongest sessions in the history of the US market occurred at the same time as this spike. The Nasdaq 100 rose 12.02%, while the S&P 500 surged 9.52%, its third-largest one-day gain since World War II.

The improvement spread to international markets. Australia’s ASX 200 rose 4.55% and Japan’s Nikkei 225 gained almost 10% when Asia Pacific trade began on April 10.

The rise of the stock market was reflected in cryptocurrencies. At the time of publication, Bitcoin (BTC) had increased 7.52% in a single day to $82,065 in value. Following Trump’s executive order enacting broad tariff hikes, market volatility increased in early April, resulting in a $3.25 trillion decline in U.S. stock values, which was far greater than the $2.68 trillion valuation of the whole cryptocurrency market at that time.

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