2 days ago
Bitcoin BTC is bouncing hard towards $110,000 connected Wednesday, shrugging disconnected Tuesday's little risk-off question that dragged the terms beneath $106,000.
Recently, the largest crypto traded astatine its strongest terms since June 11, astir $109,500, up 3.5% implicit the past 24 hours.
The enactment came arsenic Donald Trump announced a commercialized woody with Vietnam, helping hazard assets crossed the board. The Nasdaq astatine midday is up 0.8%.
Under the deal, the U.S. volition enforce a 20% tariff connected goods from Vietnam and a 40% levy connected transshipped goods—products routed done Vietnam connected their mode to the U.S. U.S. exports, successful turn, volition look nary tariffs erstwhile entering the Vietnamese market.
Boosting crypto sentiment specifically could beryllium the debut of the REX-Osprey Solana + Staking ETF (SSK), the archetypal specified crypto staking merchandise disposable successful the U.S.
"Volume successful $SSK present astatine $20M, which is truly strong, apical 1% for a caller launch," wrote Bloomberg expert Eric Balchunas a abbreviated portion ago. Balchunas noted that SOLZ — a futures-based SOL ETF that opened for concern successful March — did conscionable $1 cardinal of measurement connected its archetypal time of trade.
July could beryllium large (in either direction)
July is shaping up to beryllium a perchance volatile period for bitcoin, driven by Trump administration's policies, according to Vetle Lunde, caput of probe astatine K33.
Trump is expected to motion a arguable expansionary fund measure dubbed the "Big Beautiful Bill" by Friday. The bill, which could widen the U.S. shortage by $3.3 trillion, is seen by immoderate arsenic bullish for scarce assets similar BTC, Lunde said.
Another cardinal day looming is the July 9 tariff deadline, which could spot much assertive commercialized posturing from Trump.
Thirdly, July 22 is the last deadline for enactment connected long-awaited crypto enforcement order, with imaginable updates connected the U.S. Strategic Bitcoin Reserve.
"July is crowded with latent Trump volatility," Lunde said. Still, crypto markets are comparatively calm without excessive froth, helium noted.
"There are fewer reasons to expect a monolithic wide deleveraging of the crypto market, arsenic crypto-leverage remains contained," helium said. "This favors maintaining spot vulnerability and staying diligent arsenic we advancement into a play good known for its
seasonal apathy."
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