Bitcoin managed to recover losses from Monday’s price crash triggered by President Donald Trump’s confirmation that new tariffs on Canada and Mexico will take effect. The total cryptocurrency market cap,

Bitcoin's price was buoyed Wednesday on hopes President Trump would soften the punishing tariffs on key trade partners Canada and Mexico.

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The big three cryptocurrencies are on the move today. Bitcoin ( BTC 2.06%), Ethereum ( ETH 2.14%), and Dogecoin ( DOGE 1.58%) are up 2.3%, 2.6%, and 1.7%, respectively, as of 12:30 p.m. ET. Earlier in the day, however, they were up as much as 6.1%, 5.5%, and 4.4%.

Bitcoin rebounds after U.S. Commerce Secretary Howard Lutnick hints at possible tariff relief, while Satoshi-era Bitcoin wallets moves $22 million after 14 years.

But as of this writing, Bitcoin's price has retreated more than 20% to about $84,000. That decline can be largely attributed to the Trump administration's plans to impose or raise tariffs, which are stoking fears of higher inflation and elevated interest rates.

CleanSpark grew its Bitcoin treasury by approximately 6% from mining operations in February, the crypto miner said on March 5. During the month of February, CleanSpark mined a total of 624 Bitcoin ( BTC ), worth upward of $55 million at Bitcoin’s spot price of around $89,000 as of March 5, according to CleanSpark’s monthly report.