The global crypto market cap rebounded from $2.54 trillion to $2.64 trillion, a 2.1% intraday gain. CoinMarketCap data cited in the source shows Bitcoin trading at $78,334.23 with a market value of $1.56 trillion, while Ethereum rose 0.20% to $2,291.31 and held a $276.54 billion valuation. The move came even as the US government remained partially shut down, which made the rebound stand out.
India-US trade headlines improved market confidence
One of the main triggers was fresh reporting around an India-US trade deal. According to the source, the news was shared in a Truth Social post, and India’s equity market jumped more than 5% after the announcement. The reported terms included India stopping purchases of Russian oil, cutting tariffs on US goods to 0%, a reduction in US duties on India to 18%, and Indian purchases of $500 billion in American products.
That scale of economic coordination was read by markets as a signal of stability. When confidence improves in traditional finance, digital assets often react quickly as expectations around liquidity and risk-taking shift.
Trump comments and policy messaging added support
The source also pointed to a Trump crypto meeting mentioned by The Kobeissi Letter. In that account, Donald Trump described himself as a “big crypto person” and announced a $12 billion Strategic Mineral Stockpile intended to counter China.
Names including Kevin Warsh and Brett Matsumoto were presented as part of a broader innovation-friendly posture. For traders, policy messaging can affect pricing fast, especially after a sharp sell-off has already left sentiment fragile.
Gold and silver rally, plus SpaceX-xAI news, fed risk appetite
TradingView data referenced in the article showed gold up 5% above $4,850 per ounce, with the price near $4,923. Silver was reported up 11% to $87.162, and 20% higher over 12 hours. Strong moves in metals often point to capital rotation and defensive positioning, but they can also coincide with broader cross-market repricing.
The article also cited Elon Musk confirming that SpaceX had acquired xAI, lifting the company’s valuation to $1.25 trillion and making it the world’s 12th most valuable firm. Musk also hinted at sending a literal Dogecoin to the moon next year. The claim was framed as symbolic, but it still drew attention from retail traders. Elsewhere, the source noted gains in Hyperliquid, suggesting selective buying in derivatives-linked ecosystems.
Recovery underway, but volatility risks remain high
The bounce has not removed the broader risks. The source said Congress missed the January 30 funding deadline, leading to a partial shutdown that had already lasted three days. It also said the US Labor Department delayed the January jobs report, adding another layer of uncertainty.
Bitcoin had earlier fallen below $75,000 for the first time since September 2025. Even after the rebound, the Fear and Greed Index stood at just 17, still deep in fear territory. Analysts cited by CoinGabbar warned that volatility could return quickly if macro conditions do not improve. The article added that traders were also monitoring regulatory developments tied to an India crypto disclosure penalty.