Global Crypto Stocks Up Amid US Market Rebound
Crypto-related stocks rallied alongside the broader U.S. stock market on April 9, following President Donald Trump’s announcement of a 90-day pause on sweeping global tariffs.
By the end of the trading session, Michael Saylor’s Strategy (formerly MicroStrategy) surged 24.76% to $296.86, while Coinbase (COIN) rose 17% to $177.09, based on Google Finance data.
Crypto mining companies also saw notable gains, with MARA Holdings climbing 17%, Cipher Platforms up 16.59%, and Riot Platforms increasing 12.77%.
Much of the upward momentum came in the final three hours of trading, after Trump posted on Truth Social that he would pause his global “reciprocal tariffs” for 90 days.
He added that the general tariff rate would be reduced to 10% for all countries except China, which would face a 125% rate due to retaliatory measures.
The S&P 500 closed up 9.52%, marking its third-largest single-day gain since World War II, while the Nasdaq 100 recorded a 12.02% increase.
Markets in the Asia-Pacific region followed suit as Thursday trading opened. Australia’s ASX 200 index was up 4.55%, and Japan’s Nikkei 225 opened nearly 10% higher.
Earlier in the year, Trump’s initial tariff proposal caused market unrest, contributing to Bitcoin dropping below the $100,000 mark.
A sharper escalation in early April led to further volatility.
On April 4, U.S. markets lost approximately $3.25 trillion in value—more than the entire crypto market’s $2.68 trillion valuation at the time.
Bitcoin has also rebounded. At the time of writing, BTC is up 7.52% over the past 24 hours, trading at $82,065, according to CoinMarketCap.
Sources:
https://cointelegraph.com/news/crypto-stocks-big-gains-us-stock-market-rebound
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