Bitcoin recovers to $83,000 range...Market is on the upswing as US tariffs are lifted and a temporary ceasefire agreement is reached

Bitcoin (BTC), which fell to the $76,000 mark the previous day, has rebounded to $83,000. It has recovered from a short-term sharp decline and is also seeing a rise in the additional tariffs that the United States has decided to impose on Canada.
The move comes as the U.S. announced it would withdraw the tariffs. Ukraine's agreement to a 30-day ceasefire with Russia proposed by the United States also played a positive role.
At 11 a.m. on the 12th, the price of Bitcoin on CoinMarketCap was 80,000, up 5.09% from the same time the previous day.
Bitcoin plunged to $76,808 the previous day. Economic uncertainty has risen as U.S. President Donald Trump did not deny concerns about a recession this year.
This is because the realization of the issue has become more pronounced, causing the price of virtual assets, which are risk assets, to plummet. Furthermore, China has decided to impose tariffs of up to 15% on U.S. agricultural and livestock products in response to the U.S. tariffs, creating uncertainty.
The impact was even greater. After that, Bitcoin's price suddenly fell for a short period of time, but it recovered the loss and rose to the $82,000 line. On this day, the White House announced that it would purchase Canadian steel.
The withdrawal of the decision to impose an additional 25% tariff on aluminum also had an impact. From the same day, President Trump imposed an additional 25% tariff on Canadian steel and aluminum.
On the same day, White House trade and manufacturing adviser Peter Navarro said in an interview with foreign media that "additional tariffs on Canada will not go into effect.
"I will not do anything," he said. The news that Ukraine agreed to a 30-day ceasefire with Russia proposed by the United States on the same day also had a positive effect.
Jeff Kendrick, head of digital asset research at Standard Chartered, said, "The recent drop in Bitcoin prices is
"The recent decline in bitcoin prices is more related to the weakness of risk assets than issues with bitcoin itself and is driven by market sentiment," he said. "The clarification of bitcoin purchase and tariff policies in countries such as the U.S., the Federal Reserve's
"If there is a cut in the benchmark interest rate (RB), the price will rebound," said a CryptoQuant contributor. "According to on-chain metrics, the lottery participants active on the cryptocurrency exchange Binance
"Looking at past cases, in such cases, Bitcoin has often turned upward," he said. "If this trend continues, the current market
"There is a possibility that the market will rebound once the correction is over," he added.