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On Wednesday, Bitcoin, the world's largest cryptocurrency, jumped by more than 5% , reaching $90,313 after a Trump administration official hinted that the U.S. might roll back some tariffs on Mexico and Canada.

U.S. Commerce Secretary Howard Lutnick suggested that Trump was receptive to scaling back punitive tariffs: “What [Trump] is thinking about is which sections of the market that can maybe – maybe he’ll consider giving them relief,” Lutnick told Bloomberg . “It could well be autos, it could be others."

Meanwhile, Ether, the world's second-largest cryptocurrency, is currently trading at a price of $2,216 , representing a 4% jump for the digital asset, according to CoinMarketCap.

In the last 24 hours, Ether has seen $25.2 billion in trades, while Bitcoin has recorded trades of $58.6 billion .

Moreover, Ether's price above $2,200 places it in a pivotal price corridor, according to one analyst: "Ether is currently trading within a crucial range between $2,193 and $1,984," said Arthur Azizov, CEO at B2BINPAY. "If the price consolidates above $2,200, it is likely to move toward the upper boundaries. However, if the price falls below $1,984 and fails to bounce back quickly, instead trading consistently beneath this level, it could be a concerning signal for the asset."

Friday's upcoming White House crypto summit is likely to introduce "volatility" to Bitcoin markets, Azizov added. Analysts at Bitfinex anticipate further price movement for Bitcoin, noting that “the S&P 500 index and macroeconomic conditions are likely to dictate further price movements. We believe that there is potential for crypto-specific tailwinds to drive the price higher from current levels until we learn the final details of the U.S. crypto reserve on March 7th at the Crypto Summit at the White House."

Some crypto analysts, however, see the summit as a growth opportunity: “The industry has been waiting for a regulatory framework that balances innovation with appropriate guardrails," Les Borsai, government crypto advisor and co-founder of Wave Digital Assets, told TheStreet Crypto. "The summit – and a potential cryptoasset reserve – signals that Washington finally understands crypto's role in maintaining America's financial leadership. What's most encouraging is seeing policymakers engage directly with industry leaders rather than legislating from a distance.”