In the aftermath of Trump’s bold stance last Friday, Bitcoin (BTC) 
$78,914 continues to find buyers above $107,000. While the European Union reviews the latest U.S. tariff proposal, it has not escalated tensions in response to the President’s challenge. This suggests a potential tariff agreement between the EU and the U.S. But how are the cryptocurrency markets holding up?
Bitcoin (BTC)
As June draws to a close, altcoin investors have yet to see significant gains. Numerous important developments were followed by declines, hindering upward trends and resulting in a tedious seven months. However, Trump’s trade secretary predicted this course when tariffs were first announced months ago.
The year’s first quarter was marked by destruction due to tariffs, the second by negotiations, and expectations for agreements and recovery in the third quarter had been announced months earlier. The April rates saw significant modification, and if forthcoming tariff agreements are realized, markets may be convinced of entering a recovery phase.
BTC had struggled to close consistently above $106,300. While investors might not have paid much attention, steady closings have begun, and if prices remain strong, this area may provide a solid foundation for growth. With the break of $108,300, BTC may embark on a new discovery towards all-time highs.
A critical point is maintaining $105,800 in case of potential downturns; closures below could lead back to the loss streak stretching to $100,165.
Cryptocurrencies
The total market capitalization of cryptocurrencies reverted to $3.3 trillion, yet trading volumes fell by 30% to $65 billion due to the Sunday effect. Bitcoin’s market dominance remains strong as ETH continues to linger below $2,500. During the week of the China-Paris agreement, prices nearly surpassed $3,000, but the Iran-Israel conflict disrupted everything. Despite a ceasefire, prices have not returned to previous levels.
Yet, potential positive sentiments from tariff agreements may spur another trial. Notably, as this article was being drafted, Trump’s tax bill acquired enough votes following the undecided senators’ withdrawal. Advantages for lower-income groups imply a form of liquidity support for markets and, thus, the cryptocurrency sector.
PENGU emerged as this week’s star, experiencing an increase of nearly 60%. Meanwhile, SEİ, SYRUP, and FARTCOIN saw rises ranging from 30% to 44%.
