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Bitcoin (BTC) posted its highest-ever play adjacent astatine astir $110,000 connected Sunday, defying a week marked by imaginable headwinds, including dormant whale wallets moving $8 cardinal successful BTC, renewed tariff drama, and bladed vacation liquidity.
By Tuesday, the plus was holding dependable conscionable nether $108,000 aft a little sell-off connected Monday night. Major crypto assets saw a bout of profit-taking. Solana (SOL) mislaid 2.3% to $149, portion dogecoin (DOGE) fell 4.1% to pb slides. Ether (ETH) hovered adjacent $2,530, and XRP held dependable astir $2.26.
In broader markets, Asian equities wobbled but avoided a selloff aft President Donald Trump signaled openness to resume commercialized talks, postponing caller tariffs until astatine slightest Aug. 1.
The MSCI Asia-Pacific scale traded level contempt Korea and Japan facing caller levies. Risk appetite crept backmost arsenic the yen softened and the won rallied, portion the euro gained connected reports of a imaginable EU deal.
“Markets are hovering astir grounds highs again,” said Augustine Fan, Head of Insights astatine SignalPlus.
“Earnings play kicks disconnected this week, and sentiment is being driven by the anticipation that CEOs usher positively, particularly aft being blindsided past 4th by abrupt tariff headlines,” Fan said.
Crypto continues to way equities tightly, with BTC-SPX correlation adjacent section highs. Fan noted that unless volatility picks up, we’re apt successful for “a blistery but quiescent summer,” albeit 1 wherever breakouts tin inactive travel from bladed air.
Meanwhile, astatine slightest 1 trader eyed a interruption of bitcoin’s $112,000 grounds highs successful the coming weeks.
“Bitcoin is well-positioned to interruption its erstwhile precocious successful July, with upside imaginable toward $120,000 by month-end. Institutional request and accordant ETF inflows proceed to reenforce bullish momentum,” Ryan Lee, main expert astatine Bitget Research, said successful a connection to CoinDesk.
“Ethereum is besides gaining strength, supported by sustained whale accumulation and renewed optimism nether a crypto-friendly U.S. administration. ETH could trial $3,000 by the extremity of July, though marketplace volatility remains a factor,” Lee said, adding that the anticipated Fed complaint chopped successful September whitethorn service arsenic a further catalyst.
Read more: Bitcoin Traders Chase $130K Bets successful Anticipation of Renewed Bullish Volatility
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