Bitcoin has risen to nearly $110,000 on Monday after a weekend sell-off triggered by U.S. President Donald Trump’s tariff threats against the European Union (EU).
Following the announcement regarding tariffs, there was a brief alleviation in trade tensions that aided the recovery of digital assets. Trump has postponed the implementation of proposed 50% tariffs on European imports to July 9, leading to positive movements in U.S. and European index futures at the weekly market opening.
Key Points:
- Bitcoin experienced a significant rebound after rapidly falling below $110,000 due to President Trump’s tariff threats on the EU.
- An easing of trade tensions has fueled recovery in the market, with bullish sentiment returning among traders.
- Notable market movements: Cardano (ADA) and Dogecoin (DOGE) rose by about 3%, reflecting a broader positive shift across major cryptocurrencies.
On the previous weekend, Bitcoin fell from over $111,000 down to about $108,600 because of the looming threats on EU goods and Apple-produced iPhones abroad, leading to a risk-off market environment that saw over $500 million liquidated across crypto assets.
However, the mood shifted early Monday. Jeff Mei, COO at BTSE, mentioned in a Telegram message:
“On one hand, this past weekend’s dip showed us how quickly crypto can fall from macro shocks. On the other, the speedy extension of tariff deadlines reinforces the belief that the worst is over. Traders are cautiously accumulating again.”
Improvements in options market sentiment indicate optimism returning. QCP Capital, based in Singapore, highlighted renewed demand for upside exposure, reflecting a constructive medium-term outlook due to ongoing ETF inflows, regulatory advancements in the U.S., and strong institutional demand, including a $2.1 billion capital raise for more Bitcoin purchases.
