New York: The price of Bitcoin soared 5.9% after US President Donald Trump announced a 90-day pause on tariffs above 10% for certain countries, excluding China.

According to Anadolu Agency, Bitcoin's value reached approximately $81,820 by 1900GMT, with its market capitalization climbing to $1.62 trillion. The cryptocurrency's transaction volume in the last 24-hour period hit around $75.5 billion. This surge follows Bitcoin's peak in January when it reached a record high of about $109,000 during Trump's inauguration, a period marked by optimism over his pro-cryptocurrency stance.

Despite the recent rise, Bitcoin's value had previously declined due to uncertainty surrounding Trump's aggressive tariff policies. In a related trend, Ethereum's prices also experienced a significant increase, rising by 10.6% to $1,628 in the same timeframe.

On April 2, Trump implemented tariffs ranging from 10-50% on more than 180 countries, causing volatility in global markets. His latest announcement, however, has provided temporary relief to many nations, as he declared that while China's total tariff rate would increase to 125%, other countries would receive a 90-day reprieve from tariffs exceeding the 10% baseline.