Earlier today, we hinted at a major surprise awaiting us throughout the day. Just moments ago, the agreement between the United States and the European Union was officially announced. As mentioned in our previous breaking news update, Trump stated that a decision would be reached within an hour, and indeed, it has happened. Bitcoin 
$76,467 is now over $119,000, marking a significant event for both the US economy and the cryptocurrency markets.
US-EU Trade Agreement
The discussions that had been ongoing for months finally concluded just days before the August 1 deadline. Trump, alongside Von der Leyen, delivered the news. Last month, the EU expressed its intention to balance its export surpluses through a considerable energy purchase. This newly reached agreement aligns with those intentions. At the time this article was prepared, Trump shared the following remarks;
“An agreement has been reached with the EU. The EU will invest $600 billion more in the US. They have agreed to allow duty-free trading between countries, granting access to all nations.
The EU will purchase a substantial amount of military equipment from the US. We have agreed on a 15% tariff for cars. The EU will buy hundreds of billions of dollars’ worth of military equipment. This deal will unite us.
Energy is a crucial part of the agreement. They are purchasing a significant amount of energy. The terms on steel will remain the same as before. The UK Prime Minister is pleased with the EU agreement.”
For Bitcoin, the fear of tariffs has temporarily subsided, and its price is moving away from the CME gap. This situation particularly highlights the potential for sudden price surges in altcoins, especially with Ethereum 
$2,266‘s price being over $3,800. If Powell is satisfied with this agreement, he may discuss interest rate cuts for September within this week.
