- Bitcoin holds $109K as Trump confirms the July 9 tariff deadline, sparking market uncertainty.
- Crypto traders are shifting to safer assets amid rising geopolitical risks.
The crypto market is facing renewed turbulence following former President Donald Trump’s firm confirmation of the July 9 tariff deadline. His hardline stance has triggered anxiety in global markets, leading to a noticeable shift in trader behavior and asset rotation.
During a recent press interaction, Trump made it clear there would be no extension to the deadline. “I don’t think I’ll need to,” he said, highlighting the administration’s push for last-minute trade concessions—particularly from Japan. This aggressive posture, even as Treasury Secretary Steven Mnuchin admitted slipping timelines, has rattled broader markets and, by extension, crypto.
Crypto Retreats Amid Risk-Off Sentiment
After a strong start to the week, the crypto sector is now under pressure. Traders are pulling profits and moving into lower-risk assets like stablecoins amid macroeconomic and geopolitical uncertainties.
Bitcoin (BTC) is currently hovering around $109,447, marking a 1.5% drop from its Monday peak. While Ethereum (ETH) shows a daily gain of 6% at $2,595, short-term risks loom large. XRP is down 5.24% to $2.26, and Dogecoin (DOGE) has fallen 3.5% to $0.174. On a brighter note, solana (SOL) is up 7.8% weekly, trading at $155.81, and BNB holds at $660.75 with a modest 1.48% gain.
Still, the overall trend suggests traders are scaling back risk exposure as uncertainty intensifies.
Key Catalysts Ahead: Will Bitcoin and Crypto Break or Bounce?
As the July 9 tariff deadline approaches, several factors will play a critical role in determining the next move for crypto:
- US–Japan Trade Talks: The unresolved negotiations remain a key driver of risk sentiment. Any progress—or lack thereof—could swing crypto prices significantly.
- Tariff Fallout: Escalating trade tensions could lead to broader market sell-offs, dragging crypto down with them.
- Macroeconomic Data: Labor market reports and guidance from the Federal Reserve will influence capital flows and crypto correlation to traditional markets.
With Bitcoin’s $109,000 support level acting as the current floor, a clean break below could expose targets at $106K and $105K. On the flip side, de-escalation in trade rhetoric could revive bullish interest in BTC, ETH, and SOL.
Crypto traders are navigating choppy waters as Trump’s tariff stance injects fresh volatility into an already sensitive market. With July 9 fast approaching, all eyes are on geopolitical headlines and Bitcoin’s ability to hold the line.
ALSO READ:Bitcoin to Hit $135K by Q3 as Standard Chartered Projects Massive Growth
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
