Crypto prices have made solid gains today, March 5, 2025. The total crypto market cap is back above $3 trillion and Bitcoin reclaimed $90,000 briefly before retreating to around $89,000. These gains followed a recovery in the stock market amid speculation that President Trump may announce tariff reliefs for Canada and Mexico.
Crypto Prices Today: KAITO and BERA Lead Market Recovery
Bitcoin and most altcoins traded in the green today as the market sentiment shifted due to speculation that Trump would ease his tariffs on Canada and Mexico after the two countries retaliated with their own tariffs.
KAITO led the market recovery with a staggering 50% gain. At press time. KAITO was wiping some of these gains, but the price remained up by more than 27% in 24 hours.
On the other hand, Berachain (BERA) price was up by more than 19% to a daily high of $7.18. BERA had retreated slightly to trade at $6.69 but still showed potential to make more gains as the momentum in the broader market shifted to positive as crypto prices surged.
Bitcoin price briefly reclaimed the $90,000 resistance level. At press time, BTC trades at $89,620 with an 8% gain. Ethereum had also bounced by 6% to trade at $2,190 while XRP was up by 6% to $2.47. Solana also moved above $140 after a 5% gain. Cardano recorded the most gains among the top-ten cryptos with a staggering 20% rise.
These gains show a healthy recovery after a brutal sell-the-news event after Trump announced a crypto strategic reserve. If Bitcoin continues gaining and flips the $90,000 resistance, it could bode well for crypto prices and trigger a bullish momentum across the crypto market.
Crypto Market Seems Poised for More Gains – Here’s Why
Several catalysts suggest that crypto prices are poised for more gains. US Commerce Secretary Howard Lutnik has said that President Trump will announce a strategic BTC reserve at Friday’s White House crypto summit.
The Commerce Secretary also stated that Trump is likely to ease the tariffs imposed on Canada and Mexico. This is after the two countries retaliated with their own tariffs, forcing crypto prices to drop. If a trade war is averted, it could fuel demand for risk assets like Bitcoin and altcoins.
Institutional demand also remains notably high. After the recent drop in Bitcoin price, “Japan’s MicroStrategy” Metaplanet bought 497 BTC for $443M. While this purchase is significant, more institutional demand from firms such as MicroStrategy is needed to move crypto prices.
Moreover, US states seem to be rapidly adopting Bitcoin. The aspirant governor for Florida, Byron Donalds, has pledged to support plans for a Bitcoin reserve and include BTC in its state balance sheet. According to Donalds,
“It’s really proven to be a great holder of value and of wealth. And if we incorporate that into our state’s balance sheet, it could be something that will help us weather any potential future storms economically in the future.”
As US states adopt Bitcoin, it increases the likelihood of the US Congress supporting Trump’s plan to have a Bitcoin reserve. This will support more gains for crypto prices.
Bottom Line
Crypto prices are up today amid positive macro factors. Speculation is rife that President Trump will ease tariffs on Canada and Mexico and institutions used the recent dip to fuel demand. If Bitcoin continues to gain and breaks the $90,000 resistance level, it could drive gains for the altcoin market.
The post Crypto Prices Today: KAITO, BERA Up Double Digits, BTC, ETH, SOL, ADA, XRP Prices Rally appeared first on CoinGape.
