Bitcoin climbs back above $109,000 after weekend slump as Trump sets new tariff date
Quick Take Bitcoin rose above $109,000 early morning Monday after falling under $108,000 during the weekend. One analyst said Trump’s new trade negotiation date of August 1 eased concerns about incoming volatility.
The Bitcoin price rose above $109,000 as of early Monday morning, alongside gains in other cryptocurrencies, as the Trump administration's new tariff date eased concerns of imminent volatility.
According to The Block's crypto price page , bitcoin is up 1.16% in the past day to trade at $109,362. The top cryptocurrency by market cap had dipped to lows of around $108,000 for the majority of the weekend, but started to regain momentum on Sunday.
Bitcoin also closed Sunday at an all-time weekly high of $109,443, according to Yahoo Finance data .
U.S. Treasury Secretary Scott Bessent announced Sunday that tariffs, initially revealed in April, will take effect on Aug. 1 for countries without a trade agreement with the U.S. He warned that the tariff level will revert to April's rates if negotiations fail before that date.
President Trump had previously set a 90-day pause on tariffs in April, which is due to expire on Wednesday.
"Traders previously were concerned about volatility leading up to the July 9 tariff deadline on Wednesday," said Jeff Mei, COO at BTSE. "It looks like markets are rallying after it was revealed countries will have more time to negotiate before tariffs take effect at the beginning of August."
Mei added that the upcoming release of the U.S. consumer price index on July 15 will offer more insight into whether inflation is low enough for the Federal Reserve to lower interest rates. An interest rate cut raises potential for an extended rally, possibly to rewrite its all-time high of $111,814.
"Bitcoin may enter a new price discovery zone once it surpasses its all-time high, while select altcoins may follow as DeFi protocols and AI companies are increasingly catering to institutional demand," said LVRG Research Director Nick Ruck.
Other cryptocurrencies also reported gains in the past 24 hours. Ether grew 2.41% to $2,577, XRP added 2.29% to $2.27 and Solana gained 2.96% to $152. The GMCI 30 Index , which measures the performance of top 30 cryptocurrencies, is up 2.2%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI investment enters the "Trough of Disillusionment", the next 18 months will be a life-or-death test!
Goldman Sachs believes that the AI investment cycle is currently in the "trough of disillusionment," but this is not the first time. The core contradiction lies in the fact that the business models of new cloud computing providers are highly dependent on end-user returns from AI spending, while currently "there are basically zero companies that can attribute profits to AI." Social Capital founder Palihapitiya has clearly defined an 18-month key window, during which the market will decide which AI business models are sustainable and which are not.
Anthropic's Core Concern: Revenue Can Be Withdrawn at Any Time, but Computing Power Costs Are Locked in for up to 20 Years
Zheshang Securities believes that Anthropic's revenue is mainly based on usage-based billing, with remaining performance obligations covering only about 5.1 months of annualized revenue, while compute power costs are already locked in with $895.4 billion in irrevocable commitments, some extending as far as 2045. Revenues can be reduced at any time, but costs are non-exitable, creating a highly asymmetric maturity gap between the two—this is the company's real core constraint.
Triple Pressure from the Federal Reserve, Treasury, and Congress; Goldman Sachs: Liquidity Crisis May Occur in 2027
Goldman Sachs warns that the reserve ratio of bank assets has dropped to around 11%, only slightly above the crisis trough of 2019. In the second half of 2027, a deadlock in debt ceiling negotiations will force the Treasury to rebuild the TGA, triggering a "perfect storm" of a sharp drop in reserves and a surge in T-bill supply; combined with stalled money market fund buying, this will create a huge liquidity black hole. The Federal Reserve could be forced into the awkward position of lowering interest rates and launching large-scale bond purchases to rescue the market.
Crypto prices
More
