Bitcoin bounced back to flirt with the $80K level during Tuesday’s early hours, taking advantage of the favorable session experienced by the major Asian bourses despite the tariff menace. Other assets like ether, XRP, and solana also recovered, but tariff risks may continue to affect market performance in the coming days.

Bitcoin Surfs Around $80K as Asian Stock Markets Breathe From Tariff Threat

Crypto markets enjoyed a favorable session during the early hours of Tuesday the 8th as traditional markets also bounced after the disastrous effect of tariff-related announcements the day before. Bitcoin experienced a surge of over 4% in its price, recovering from the drop to sub $75K levels experienced less than a day ago.

Ether also registered gains, reaching close to $1,560 in several exchanges, while XRP maintained an 8% price increase, registering a price of $1.86. Solana, which fell to double digits, also regained some ground, with a 7.6% increase that took SOL prices over $107.

Traditional Asian markets also rose in China and Japan, as President Trump stated that he would negotiate with the Japanese government regarding the elimination of tariffs.

On Truth Social, President Donald Trump stated:

Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs.

Nonetheless, the trade war seems to be far from over, and a period of instability might still be on the horizon as China and the U.S. have recently retaliated by increasing the tariff percentage on each other products imports, with the former declaring it would fight this war until the end. Even so, Chinese markets rose, with Hong Kong’s Hang Seng Index climbing over 2% and the CSI 300 rising 1.71%.

Analysts have mentioned that, during these times, bitcoin has behaved in line with U.S. indexes, following the movements of traditional finance assets. Garrick Hileman, an independent cryptocurrency analyst, stated that bitcoin’s digital gold hedge was still unproved, finding that it traded “like a risky tech stock.”

Read more: A Sea of Red: Bitcoin Dives Below $75K as World Markets Falter