Crypto Stocks See Significant Gains as US Stock Market Rebounds

Crypto Stocks See Significant Gains as US Stock Market Rebounds

On April 9, crypto stocks experienced significant gains as part of a broader recovery in the US stock market. The rally followed a major announcement from President Donald Trump about a 90-day pause on global tariffs, contributing to a sharp rebound in investor sentiment. The S&P 500 posted its third-largest single-day gain since World War II, jumping 9.52%, while the Nasdaq 100 saw a 12.02% increase.

Crypto stocks led the charge in the recovery, with notable increases across the sector. MicroStrategy (MSTR), led by Michael Saylor, saw a 24.76% jump, closing at $296.86. The popular crypto exchange Coinbase (COIN) surged 17%, ending the day at $177.09. Crypto mining companies also saw impressive gains, with MARA Holdings (MARA) up 17%, Cipher Platforms (CIFR) rising 16.59%, and Riot Platforms (RIOT) gaining 12.77%.

The rally came after an afternoon post from President Trump on his Truth Social platform, where he announced a reduction in the global reciprocal tariff rate. Tariffs were lowered to 10% for all countries except China, which was targeted with an increased 125% tariff due to its counter-tariffs against the US.

Michael Saylor’s Strategy, formerly known as MicroStrategy, surged 24.76% during the trading day. Source: Google Finance

Global Market Rebound

The positive momentum wasn't confined to the US. Asia Pacific markets also experienced a boost on April 10 as local trading began. Australia’s ASX 200 index rose by 4.55%, while Japan’s Nikkei 225 opened the trading day up nearly 10%.

Impact on Bitcoin and Crypto Markets

The recovery extended to Bitcoin, which saw a 7.52% increase in the last 24 hours, reaching a price of $82,065 at the time of publication, according to CoinMarketCap data. Despite some volatility earlier in the month, triggered by Trump's tariff escalations, the latest market shift has allowed Bitcoin and other crypto assets to regain ground.

In early April, the US stock market lost $3.25 trillion, a sharp decline attributed to concerns over the global tariff situation. However, the recent tariff pause provided much-needed relief, helping both traditional and crypto markets recover quickly.

This significant market rebound demonstrates the interconnectedness of global financial systems, where regulatory shifts and macroeconomic decisions can have a profound impact on both traditional and digital asset markets. As investors digest these changes, crypto stocks and Bitcoin continue to attract attention as key beneficiaries of the market rally.