Ethereum Price Surges After Trumps Tariff Pause Sparks Market Relief
The move triggered renewed risk appetite across financial markets, giving a notable boost to crypto assets.
ETH jumped 12.7% over the past 24 hours to reach $1,650, marking a short-term recovery after a difficult week in which it is still down 14%. The surge brought Ethereums market cap to $199.35 billion, with 24-hour trading volume hitting $38.25 billion.
The derivatives market saw a wave of liquidations as traders were caught on the wrong side of the move. In the past 24 hours, Ethereum recorded $160.05 million in liquidations, including $97.9 million from short positions and $62.15 million from longs.
The broader market reaction suggests traders viewed Trumps tariff delay as a positive step toward reducing macroeconomic uncertaintyat least temporarily. However, the exclusion of China and the sharp hike in tariffs on Chinese imports to 125% adds a layer of complexity to global sentiment.
The 1-day ETH/USD technical analysis from TradingView still remains bearish. The sumamry shows sell with 14 signals, while moving averages point to strong sell with 13.
On a side note, the U.S. Securities and Exchange Commission (SEC) just approved Ethereum ETF options trading, marking a significant step forward for the biggest altcoin by market cap.
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Text source: Coindoo
