Bitcoin Recovers to Nearly $110,000 After Weekend Sell-Off
Bitcoin rebounded to nearly $110,000 after a drop caused by U.S. tariff threats on the EU. Key points include:
- Tariff proposal deadline extended to July 9, easing trade tensions and helping digital asset recovery.
- Cardano’s ADA and Dogecoin gained up to 3% in 24 hours, reflecting broader market relief.
- Bitcoin fell from above $111,000 to $108,600 over the weekend due to risk-off sentiment.
- Over $500 million in long liquidations occurred across the crypto market during the sell-off.
- Early Monday showed signs of recovery, with traders cautiously accumulating positions.
- Options flows indicate renewed optimism, with demand for Bitcoin call contracts increasing.
- QCP Capital reported a constructive medium-term outlook driven by ETF inflows and institutional interest.