Global markets bounced back sharply on Monday after a volatile weekend triggered by U.S. President Donald Trump’s surprise threat to reimpose tariffs on Chinese imports. The initial announcement late Friday shook investor confidence worldwide, sending risk assets tumbling — but a softer tone from the White House quickly reversed the selloff.
Crypto markets were among the hardest hit in the initial reaction. Over the weekend, total digital asset capitalization dropped nearly 11%, sliding from around $4.24 trillion to $3.78 trillion, before recovering above the $4 trillion mark early Monday. Bitcoin rebounded to trade above $114,000, while Ether rose past $4,100, according to data.
Traditional markets mirrored the turnaround. The S&P 500 surged more than 1.5% in early trading, marking its strongest session since May and adding roughly $850 billion in market value. Optimism flowed into crypto-related equities, particularly among bitcoin mining companies. Bitfarms (BITF) and Cipher Mining (CIFR) jumped 22% and 17%, respectively, while Marathon Digital (MARA) and Hut 8 (HUT) gained close to 10%.
However, crypto exchange stocks failed to join the rally. Shares of Gemini Space Station (GEMI) and Bullish (BLSH) each slipped over 3%, and Coinbase (COIN) declined about 2%, suggesting that investor confidence remains cautious around trading platforms despite the broader recovery.
Meanwhile, gold and silver continued to shine. Gold extended its record-breaking run, hitting a new all-time high above $4,120, while silver futures climbed toward the $50 mark — levels not seen in over a decade.
“Gold’s strength shows its lasting appeal during uncertain times,” said Kevin Rusher, founder of real-world asset platform RAAC. “Crypto is still significantly more vulnerable, largely due to lingering liquidity issues,” he added.
Tariff tensions ease
Markets regained their footing as Washington sought to cool fears of a renewed trade war. Senior administration officials stressed that U.S.–China relations remain stable, and Treasury Secretary Scott Bessent clarified that proposed 100% tariffs on Chinese goods “don’t have to happen.”
This marked a quick reversal from Friday’s tone, when Trump’s social media posts hinted at broad tariffs following China’s announcement of new export controls. Those measures initially drew muted reaction until Trump’s comments spurred a global selloff. By Sunday, Beijing clarified that its export restrictions were limited in scope, and Trump later assured followers that “it will be all fine.” By Monday morning, officials signaled that the proposed tariffs were unlikely to move forward.
