Bitcoin price has exceeded $ 109 thousand: Trade optimism supports crypto
Bitcoin rose to 109 thousand dollars with the US-Vietnam Trade Agreement and the relaxation of export restrictions against China. Altcoins also compensate for the losses in June.
BTC on the rise: ranges to 109 thousand dollars
Bitcoin increased by 2.3 %as of Thursday morning and rose to $ 109.113. This increase indicates a narrow band of $ 103,000-1108,000, which has been going on for weeks. However, it is still unclear whether this break is permanent.
The biggest factor in this rise was the positive steps taken by the US in trade relations with China and Vietnam.
🌏 Trade Expansion from the USA: It was positively reflected in the crypto
A trade agreement was signed between the US and Vietnam. This was the third agreement before 9 July.
The US also loosen some restrictions on chip technology exports to China.
It was stated that the agreement with India is close, but negotiations with Japan and South Korea are experiencing congestion.
President Trump clearly stated that he will not extend the July 9 Trade Tariff period.
These developments increased the risk appetite in global markets and created a wave of purchasing in the Bitcoin and crypto market.
🏛️ Eyes are now in congress and non -agricultural employment data
Investors are focused on the controversial tax bill, which is expected to be voted in the Congress today. However, according to the latest information, the law is still in discussion. At least 5 Republican deputies who opposed the bill were reported. Criticism will increase the US debt and economic risk.
Today, June Nonfarm Payrolls) will also be announced today. This data is critical in terms of the possibility of the Fed’s interest rate reduction. An increase in employment lower than expected can strengthen interest rates expectations.
🪙 Altcoins also recovered
Many Altcoins that performed poorly in June gained value by finding support from the rise of Bitcoin:
| Asset | Price | 24S Change |
|---|---|---|
| ** Ethereum (ETH) ** | \ $ 2,592.85 | +6.1% |
| ** XRP ** | \ $ 2.2684 | +3.7% |
| ** CARDANO (island) ** | - | +7.8% |
| ** Solana (left) ** | - | +4.3% |
| ** Dogecoin (Doge) ** | - | +8.1% |
| ** Trump Token ** | - | +4.4% |
Cardano had a decrease in 17 %in June and this rise is considered a reaction acquisition.
📌 Conclusion: Hope of Trade + Interest Discount Expectation = Crypto Rally
The US trade moves and possible FED interest rate cuts create a positive basis for crypto investors. If Bitcoin’s movement over $ 109,000 is permanent, a new trend can begin in the short term to the range of $ 110,000 to12,000.
