Bitcoin Rises to $87k Amid Trade Tariff and Crypto Summit Speculations

Bitcoin experienced significant volatility this week, rebounding to $87,103.8, marking a 3.4% increase by 00:51 ET (05:51 GMT). The surge follows a tumultuous period where U.S. President Donald Trump's remarks on forming a crypto reserve initially sparked optimism but left investors uncertain.

Amidst Trump's announcement of potential tariffs and a planned crypto summit, Bitcoin saw drastic fluctuations, briefly dropping below $80,000 before recovering. Commerce Secretary Howard Lutnick's suggestion that Trump might ease tariffs on Canada and Mexico brought brief relief, hinting at a possible negotiating stance. However, Trump's recent address to Congress provided no clarity on tariff adjustments, leaving markets uncertain.

Investors are now eagerly anticipating Trump's upcoming White House Crypto Summit, slated for Friday, hoping for insights into his crypto policies and potential regulatory measures. Despite the uncertainty, Bitcoin's resilience to recent lows signals ongoing investor confidence amidst a volatile market landscape.