Bitcoin price has surged past $90,000 as investors reacted to President Donald Trump’s decision to delay imposing 25% tariffs on Canadian and Mexican auto imports.
As reported by Reuters on Mar. 6, the move, which grants a one-month exemption for U.S. automakers, eased concerns that the trade war could damage domestic manufacturing and weighed on the dollar, fueling demand for risk assets like crypto.
The decision came after Trump met with executives from Ford, General Motors, and Stellantis, according to White House press secretary Karoline Leavitt. Investors see the delay as an indication that tariffs may not cause as much economic disruption as anticipated.
According to the price tracker on crypto.news, Bitcoin Bitcoinbtc2.97%
Bitcoin
is currently trading at $91,651, up 5% over the last 24 hours. The broader crypto market also advanced, gaining 2% amid improved risk sentiment. Although it is still in the “Extreme Fear” zone, the Fear and Greed Index increased 5 points to 25, indicating that investors are still being cautious.
Crypto-related stocks also saw significant gains, with Coinbase (COIN) rising 4% and MicroStrategy (MSTR) jumping 12%%. At the same time, the U.S. dollar index (DXY) fell to its lowest level since November, historically a bullish signal for Bitcoin.