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The crypto market is also bracing for the release of the Personal Consumption Expenditures (PCE) index later this week.
Avalanche (AVAX) led gains among the top 20 cryptocurrencies on Monday after Bitcoin (BTC) surged past $87,000 in U.S. premarket hours, buoyed by a Bloomberg report that said President Donald Trump’s forthcoming tariff announcement would be narrower in scope than initially expected.
The report said Trump’s planned universal, reciprocal tariffs set to be unveiled on April 2 — a date he has called “Liberation Day” for the U.S. — will target specific trade barriers rather than implementing sweeping global duties.
The market reaction sent risk assets higher, with major cryptocurrencies climbing alongside equities.
Bitcoin, Ether (ETH), and XRP (XRP) each gained more than 3.5% over the past 24 hours, according to CoinGecko data. Avalanche outperformed, surging more than 12%, while Solana (SOL) rose 7.1% and Chainlink (LINK) jumped 6.5%.
Meanwhile, U.S. Treasuries declined, signaling increased risk appetite among investors.
The crypto market is also bracing for the release of the Personal Consumption Expenditures (PCE) index later this week. PCE is a key inflation gauge that tracks price changes in goods and services and is closely monitored by the Federal Reserve.
Consumer confidence and personal spending data are also due, which could influence market sentiment.
On Stocktwits, retail sentiment around Avalanche’s token ticked higher but remained in ‘neutral’ territory.
Bullish traders anticipate the cryptocurrency will lock in more gains if it continues to outperform other altcoins.
Avalanche has jumped by over 17% in the last 7 days, but its value over the past year has depreciated by nearly 60%.
Retail sentiment on Stocktwits around Bitcoin was more upbeat, surging into ‘bullish’ territory, accompanied by tepid levels of chatter.
One user pointed to past cycles, predicting that the next Bitcoin bull cycle is set to begin.
However, not everyone was as upbeat. One user remained skeptical, stating they would not invest until Bitcoin exits its current "torture chamber."
Bitcoin has gained 5% over the last seven days and is up 35.3% over the past year, though it remains 19% below its all-time high of nearly $109,000, seen in January.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Read also: Tether Eyes First Full Audit, CEO Cites Trump As Key To Progress – But Retail Sentiment Remains Bearish
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