PANews reported on April 13 that Santiment stated Trump's weekend tariff exemption policy triggered an instant surge in the crypto market. Compared to 24 hours ago, the technology industry's impact from high import costs has significantly weakened, and Bitcoin has reached a high of $85,900.
Historically, crypto assets like Bitcoin typically move in sync with tech stocks, especially when investor sentiment shifts towards higher-risk assets. When tech stocks perform well, investors are often more confident in purchasing cryptocurrencies. Therefore, Trump's tariff exemption policy dispersed the clouds hanging over the tech industry, indirectly alleviating pressure on the crypto market. In fact, within hours of the announcement, Bitcoin rebounded to the weekend high of $85,900, breaking through the resistance level around $83,000.
Moreover, the exemption for semiconductors and computer components can be viewed as a long-term benefit to the crypto ecosystem. These components are crucial for cryptocurrency mining, blockchain infrastructure construction, and the development of AI-based crypto tools. If the production and supply of these components remain uninterrupted and reasonably priced, it will ensure the continuity of the crypto industry's pillars, whether in mining or development. This means crypto exchanges, wallet providers, and blockchain solution-focused tech startups will be able to operate more smoothly.
Although Trump's trade policy remains complex and unpredictable, the targeted exemption for tech equipment provides a clear policy direction and relieves market pressure in the short term. Investors are now more confident that consumer electronics inflation will be avoided, and businesses won't be forced to raise prices or cut innovation. This doesn't mean the end of tariff concerns, but it does alleviate one of the biggest worries facing the crypto industry.
A mild bullish reaction has already been seen in the crypto market, and the stock market should rise on Monday, which will drive Bitcoin and Altcoins further up. However, after the initial reaction, the market will become more interesting, and the public's "FOMO" sentiment might kill any upward momentum.
