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Softening tones from U.S. President Trump on the subjects of trade with China and Fed independence set up a stock market recovery on Tuesday. Bitcoin, still unsure if it actually wants to be a safe haven, joined in the risk-asset dance.

BTC reclaimed $90,000 just before noon yesterday and did not look back, particularly in the wake of Trump publicly reiterating calls for clear-cut crypto regulations while the Trump family business expands aggressively into the sector. BTC for a spell shot above $94,000, a level unseen since early March. As of today, at 7:55 a.m. (EST), the largest crypto was about $93,500, up 5% in the past 24 hours, per CoinGecko.

BTC ETFs yesterday saw inflows of approximately $900M, marking the category's best single-day tally since Inauguration Day, when BTC soared above $108,000, hitting an all-time high. 

A wide range of Top 100 digital assets have surged double digits, percentage-wise, over the past day, with at least a few coins gaining more than 20%. These include SUI, native asset of Sui, a layer-1 network, and Bonk (BONK), a mid-cap memecoin.

Lighting up the board pinball-wizard-like is Immutable's native IMX which at one point soared by as much as 50% amidst reports of impressive Web3 gaming milestones having been reached and some new, big-time partnership possibly being in the works.

Last week, Trump said Fed Chair Jerome Powell's “termination cannot come fast enough.” Markets tanked on fears that the America was going to become Turkey. Gold soared to a record high. 

Yesterday, Trump, hyper-capricious as ever, said he had “no intention of firing” Powell.

The price of spot gold fell to about $3,330/oz after exceeding $3,500 during Tuesday's trading session.

Tether Gold (XAUT) fell 3.8% as did PAX Gold (PAXG). The gold tracking tokens are the 99th-largest and 104th-largest cryptos, respectively, according to CoinGecko.

Attending a ceremony yesterday formally ushering in Paul Atkins as the new Chair of the SEC, President Trump called him "the perfect man to lead this agency" at a time when "crypto innovators are urgently in need of clear rules of the road."

Crypto rallied. Bitcoin shot up 6%, while Ethereum, XRP and Solana each gained 8%-10%.

In a chiefly Trump-utterance dominated world, it was his changing stance on China that commanded the most attention. Those 145% tariffs that the White House imposed on Chinese imports? They will "come down substantially," Trump said.

"Markets will take whatever good news it can get these days," the Wall Street Journal said in an Op-Ed decrying the ups and downs of an ad hoc "tariff escalator."

The about-face regarding China came in the Oval Office where Trump spoke with reporters and expressed growing optimism about reaching a U.S.-China trade deal. "We're going to be very nice, they're going to be very nice, and we'll see what happens," Trump said.

These off-the-cuff, incongruous niceties came not long after Treasury Secretary Scott Bessent reportedly said the trade standoff with China is not sustainable and that he expects a "de-escalation." Bessent's market-moving utterances were made earlier in the day, and behind closed doors, at an investor gathering hosted by JPMorgan Chase in Washington, D.C.

Politico reports the White House is close to reaching general agreements with Japan and India with details to be hashed out at a later date. In the absence of full-fledged trade deals, administration officials are said to be working on “memorandums of understanding” for future deals. As far as finalized trade deals, these things can get thorny and might take months.

President Trump’s social media company, meanwhile, said on Tuesday it had signed a "binding agreement" with a crypto trading platform and a Florida investment firm to launch a series of crypto ETFs by the end of the year, pending regulatory approval (The New York Times).