Trump and EU Announce Trade Deal as Bitcoin Holds Above $119K
Market Overview
Bitcoin (BTC) is trading at $119,430, up 1.24%, driven by a U.S.-EU trade agreement and continued bullish momentum.
- The BTC market cap crossed $1 trillion for the first time.
- A trade deal set a 15% tariff on EU goods, avoiding a higher 30% rate.
- The deal includes $600 billion in EU investment in U.S. energy and defense over three years.
- BTC dominance has decreased to 60.98%, indicating some capital rotation into altcoins.
- Galaxy Digital executed an $9 billion BTC transaction involving 80,000 BTC, part of estate planning.
- Polymarket estimates a 24% chance of BTC reaching $125,000 by the end of July.
Market Movements
BTC: Trading above $119K; majority short positions reported.
ETH: Ether at $3,867.76, up 3%; 28% staked, exchange balances at eight-year lows.
Gold: Down for four straight days at around $3,335; reduced safe-haven demand amid trade deal progress.
Nikkei 225: Mixed trading as investors await U.S.-China trade talk details.