Coinbase and Crypto Markets Rally as Trump Tariff Pause Sparks Investor Frenzy

In a dramatic market turnaround, Bitcoin and Tesla led a broad-based rally across stocks and cryptocurrencies after President Trump paused key tariffs. The decision sent shockwaves through financial markets, with Coinbase and other tech stocks posting double-digit gains. Below is a detailed summary of the day’s explosive market movements and their implications for the crypto sector.

Bitcoin and Tesla Surge as Trump Pauses Tariffs

Bitcoin surged by 8% and Tesla gained 20% after President Trump paused key tariffs. The pause triggered a rally across stocks and crypto, with the Dow Jones Industrial Average logging its biggest one-day gain in five years. Tech stocks exploded, with Robinhood up 23%, crypto exchange Coinbase gaining 20%, and MicroStrategy rocketing 25%. Earlier in the day, Bitcoin’s price had dropped as low as $74,567.02 when the 10-year U.S. Treasury yield temporarily spiked above 4.51%.

BlackRock Transfers Over 3,000 BTC to Coinbase

BlackRock, the world’s largest asset manager with $10 trillion in assets, has transferred 3,296 BTC worth approximately $254 million to Coinbase. The transfer is linked to withdrawals from its Bitcoin ETF and cannot be attributed to the fund’s direct selling. While large movements to centralized exchanges often indicate a trading intent to sell, this context leads in a different direction, with Bitcoin traced to BlackRock’s iShares Bitcoin Trust ETF.