Crypto markets rebounded sharply after US President Donald Trump announced a temporary hold on proposed tariffs targeting Canada and Mexico during ongoing negotiations. In a statement on February 3, Canadian Prime Minister Justin Trudeau confirmed the 30-day pause while both countries work on policies to curb illegal drug trafficking and immigration into the US, promising increased border security measures. Similarly, Mexican President Claudia Sheinbaum mentioned that the tariffs would remain paused as they collaborate on security and trade initiatives. The crypto market had previously suffered a downturn, with significant capital liquidated in response to the initial announcement of potential tariffs on goods from multiple countries. Following this latest news, Bitcoin surged over $100,000, recovering from a low of $92,000, while Ethereum's price rose from $2,451 to approximately $2,880, indicating a positive market reaction to the developments in international trade relations.

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