$BTC Recovers Above $109,000 Following #Trump Tariff Extension


$BTC climbed back above $109,000 Monday morning after weekend lows near $108,000.


Treasury Secretary Scott Bessent announced that tariffs will now take effect Aug. 1 instead of the original July 9 deadline.


The extension gives countries additional time to negotiate trade agreements with the U.S.


$BTC closed Sunday at a new weekly all-time high of $109,443, according to market data.


Traders had been concerned about volatility leading up to Wednesday's original tariff deadline.


The additional negotiation window appears to have eased market fears about immediate trade disruptions.


Jeff Mei from BTSE noted markets are rallying on the extended timeline for #tariff negotiations.


The upcoming U.S. Consumer Price Index release on July 15 will provide insight into potential Federal Reserve rate cuts.


A rate cut could fuel an extended rally toward $BTC all-time high of $111,814.


Other major #cryptocurrencies followed suit with $ETH gaining 2.41% and $SOL up 2.96%.

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July 07, 2025 at 11:44 AM