US equity futures and cryptocurrency markets rose on Monday as reports suggested President Donald Trump’s planned tariffs due April 2 could be narrower in scope than initially expected. This positive sentiment pushed Bitcoin, XRP, and Solana’s SOL token higher.
Bitcoin traded at around $86,500, up 2.7% on a 24-hour basis. Solana’s SOL token gained nearly 6%, while XRP rose 2.5%. The S&P 500 futures index also increased by over 0.5%.
The improved sentiment was largely attributed to Bloomberg reports stating that Trump’s tariffs would be more focused and exempt some countries. Existing levies on steel and other metals may not be cumulative, according to the reports.
The market reaction to Trump’s tariffs in February had previously sent both stocks and cryptocurrencies lower. However, recent Fed actions have revived bullish sentiment in the market. The Federal Reserve revised its inflation forecasts higher while downgrading growth figures likely due to Trump’s aggressive trade policies.
Key events to watch include Friday’s PCE reading, the Fed’s preferred inflation gauge, and a Senate Banking Committee hearing on March 27.
Source: https://www.coindesk.com/markets/2025/03/24/bitcoin-xrp-and-sol-rise-with-u-s-equity-futures-as-trump-plans-targeted-action-for-tariffs-liberation-day