Bitcoin advanced 0.8% to $115,003 on Thursday after U.S. President Donald Trump’s reciprocal tariffs officially took effect, removing a key source of market anxiety. The world’s largest cryptocurrency is trading near levels last seen in mid-July, driven by a resurgence of inflows into digital asset funds and a broadly improved risk appetite among investors.
Markets had been bracing for uncertainty around a 100% semiconductor tariff announced alongside the reciprocal levies. However, a carve-out for firms investing in U.S. manufacturing, including Apple, spurred a rally in technology shares. This in turn provided additional support for Bitcoin and correlated digital assets, highlighting the growing sensitivity of crypto to broader equity market moves.
Ethereum led altcoin performance with a 2.8% gain, while Solana and XRP rose 3.9% and 3.0%, respectively, according to data from Kraken. Analysts noted that inflows to Ethereum investment products have picked up sharply in recent days, signaling renewed institutional interest in staking-enabled yield opportunities.
Technical indicators point to a potential breakout if Bitcoin sustains its current momentum above $115,000. On-chain metrics show rising wallet activity and an uptick in long positions across major derivatives venues. Traders are watching key resistance levels at $117,500 and $120,000, which, if decisively breached, could pave the way for a retest of July highs near $125,000.
Market participants cautioned that renewed tariff volatility or a broader risk-off shift could trigger profit-taking. Nevertheless, the current environment of fading macro uncertainty and strong liquidity conditions has been cited as supportive for risk assets, including cryptocurrencies.
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