Bitcoin Approaches $120K as Markets Cheer Trump’s Tariff Rollback
Bitcoin surged toward the $120,000 mark on Monday, lifted by renewed market optimism after U.S. President Donald Trump finalized a revised tariff agreement with the European Union. The deal, which lowered planned tariffs from 30% to 15%, was interpreted by traders as a signal of reduced geopolitical risk.
BTC climbed as high as $118,455, its highest price in nearly two weeks, coming within 5% of its all-time high. The announcement boosted broader markets as well, with S&P 500 futures up 0.3% and Dow Jones futures gaining 180 points.
“Bitcoin held firm near $119K despite concerns about old BTC wallets moving coins to exchanges,” said Nassar Al Achkar, CoinW’s Chief Strategy Officer. “That, alongside institutional reserve strategies, indicates strong demand even amid surging equity prices.”
Ether Nears $4,000 as Altcoins See Renewed Buying
Ethereum (ETH) rallied 3.7% over the past 24 hours, reaching $3,932, just shy of the $4,000 threshold — its highest level since December. Interest has accelerated in recent weeks as public companies such as SharpLink begin acquiring ETH for their corporate treasuries.
Market patterns suggest Ethereum could enter a phase of outperformance relative to Bitcoin — a common trend in previous cycles.
XRP rose 2% to $3.30, extending gains driven by ETF speculation. Meanwhile, BNB led large-cap altcoins with a 6.3% gain. Dogecoin (DOGE) climbed 2% to $0.24, pushing its weekly advance to nearly 9%. Solana (SOL) traded above $190, while Cardano (ADA) hovered near $0.85.
Institutional Adoption Marks Structural Shift
Analysts say July has become a defining moment in crypto adoption. With the passage of the GENIUS Act and the total crypto market cap now above $4 trillion, institutional capital continues to flow into digital assets.
“This isn’t just a market rally — it’s a structural realignment,” said Jeff Mei, COO at BTSE. “We’re seeing a wave of public companies raising funds to add crypto to their balance sheets, while banks rush to launch crypto services.”
Looking Ahead: Volatility Expected Amid Key Catalysts
Market participants are watching several macro events that could influence short-term direction. The upcoming Federal Reserve meeting, July earnings reports, inflation data, and Trump’s August 1 tariff deadline are all in focus.
“The potential for an earlier-than-expected rate cut could ignite another wave of buying,” Mei noted. “But with macro uncertainty still in play, traders should prepare for a volatile week.”
