The markets launched the week with a wave of renewed optimism after US President Donald Trump confirmed a tariff agreement with the European Union, reducing the levies to 15% compared to the 30% threatened before.
The announcement allowed S&P 500 of 0.3%, Dow contracts more than 180 points and Bitcoin (BTC) at almost $ 120,000 for the first time in almost two weeks – just under 5% of its record level.
Bitcoin, who spent last week, negotiating between $ 114,000 and $ 119,000, approached the $ 120,000 barrier, traders, traders interpreted Trump’s price as a macro uncertainty reduction signal.
“Bitcoin has maintained a resilient fork and bounced to $ 119,000 after old wallets with tens of thousands of BTCs began to transfer funds to trade, which led some traders to fear market correction,” said Nassar Al Achkar, Director of Correw strategy, in a telegram note.
“Many institutions continue to enter the cryptography industry and use reserve strategies, making high demand against recent increases in equity prices,” he added.
The ether (ETH) increased by 3.7% in 24 hours to $ 3,932, with Momentum Building before the $ 4,000 mark in its highest price range since December. The interest in the asset has increased in recent weeks, because listed companies, such as Sharplink, have decided to build treasury bills.
Meanwhile, past market cycles generally show an ETH outperformance period after Bitcoin gatherings, which may also be commercial demand.
XRP (XRP) gained 2% to $ 3.30, continuing its rebound after recent volatility and ETF speculation.
Among the altcoins, the BNB (BNB) led large capitalization gains, up 6.3%, while Dogecoin (DOGE) climbed from 2%to 24 cents by extending its weekly rally to almost 9%. Solana and Ada de Cardano (ADA )’s solan (soil) displayed modest gains, exchanging $ 190 and 85 cents respectively.
July marked a turning point in the general public adoption. Public companies raising capital for cryptographic treasures and banks rushing to meet demand, Jeff Mei, COO in BTSE, considers this more than a rally, which describes it as structural change in investment strategies in general crypto.
“The markets were tearing in July – the transition from the engineering law and cryptocurrencies reaching a collective market capitalization of 4 billions of dollars are important milestones for industry,” said Mei. “We note an incredible number of companies collecting funds on public procurement to adopt cryptographic cash strategies. Banks and other financial institutions rush to get rid of services related to cryptocurrency to meet growing demand. ”
Mei added that the next FED meeting and pricing negotiations could serve as key inflection points, a drop in previous rate than potentially supplied another higher leg for digital stocks and assets.
However, with the profits season, inflation data and Trump’s August 1st price deadline on the calendar, traders are probably preparing for a volatile week.
