Trump TACO trade pushes Bitcoin above $70,000 again

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Last Updated on 24 March 2026 by CryptoTips.eu

The White House won’t admit it, but by now it has become stock market science: TACO, or Trump Always Chickens Out, means you can count on Donald Trump changing his plans if the markets force him to. By announcing a 5-day war pause (or the length of the trading week), President Donald Trump caused a brief turnaround on the markets on Monday, allowing Bitcoin to trade above $70,000 again. Wall Street was very eager to capitalize on the well-known TACO trade.

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Gold

If you thought that only Bitcoin could plunge deep during times of volatility, take note of the following: gold fell 8% on Monday morning, only to make up for all those losses following Trump’s social media post about the war pause. Silver made a similar move.

Oil, meanwhile, fell 11% following the announcement.

Bitcoin, which had traded just above $68,000 earlier in the day, jumped quickly to $71,000 following Trump’s news and continued trading until just above $70,000 after it became clear that Iran had not yet given its approval to the US President.

After Iran threw a further spanner in the works by claiming that they were not yet ready for a peace deal either, the markets reversed and went lower again (and went back up).

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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