The cryptocurrency exceeds US $ 109,000 in the midst of optimism for pacts with Vietnam and China, the progress of Trump’s tax reform and new historical maximums on Wall Street.
He Bitcoin It extends its recovery this Thursday with a rise of 2.1%, exceeding US $ 109,600, in an international context marked by encouraging signs in the commercial relations of the United States. The rebound is part of a climate of greater appetite for risk assets, which also drives other cryptocurrencies and stock markets.
In that context, cryptocurrencies scale up to 10%of Sui’s hand, followed by Dogecoin (7.7%) and Cardano (7.3%).
US measures encourage risk assets
The announcement of a Commercial Agreement between the United States and Vietnam —The third achieved by Washington before the deadline of July 9 – reinforced the expectations of new bilateral understandings. To this is added the recent decision of the US government to make certain restrictions to the Export of technology for semiconductors to Chinawithin the framework of a strategic pact with Beijing.
In parallel, the fiscal reform promoted by Donald Trump took a relevant step in Congress. The House of Representatives approved to initiate the final debate of the bill, after a legislative day marked by strong internal tensions within the Republican party.
The markets reacted with optimism: The S&P 500 index reached a new historical maximum, consolidating the upward trend on Wall Street. In this environment, digital assets also benefited.
From the firm 10x Research they point out that the Bitcoin “is testing the upper part of its consolidation range”, in a context that they describe as a “perfect storm” of positive macroeconomic factors. They also underline that the flows to quoted funds (ETF) remain solid, Exchange balances decrease, and political pressure on the Federal Reserve grows.
“Volatility remains moderate, which opens the door to intelligent positioning opportunities,” they added. According to his analysis, the bullish impulse that sustains Bitcoin since April not only remains, but now finds new foundations. With firm tendencies in recent months, cryptocurrency now seeks to consolidate above US $110,000, A level considered key by technical analysts.
Source: Ambito
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