'Biggest trade deal ever' — 5 Things to know in Bitcoin this week

Key Points

1. Bitcoin price action surged late-week, nearing $120,000 but failed to sustain momentum, holding around $119,000.

2. Traders anticipate potential new all-time highs if Bitcoin maintains support above $117,000, with liquidity expectations pointing to possible volatility.

3. Upcoming US macroeconomic events, including Q2 GDP and the PCE index release, could significantly impact Bitcoin and broader markets.

4. A major US-EU trade deal, exempting key sectors and involving significant investments, has boosted market optimism, with the S&P 500 reaching record highs.

5. Bitcoin's July performance, up 11.3% in 2025, aligns with historical averages, but August typically shows weaker returns, raising questions about future price stability.