Bitcoin Rebounds Toward $110K, Presaging What Could Be a Volatile July
2025-07-02 17:13:04
Main Idea
Bitcoin rebounds toward $110,000, signaling a potentially volatile July driven by macroeconomic factors and upcoming regulatory deadlines.
Key Points
1. Bitcoin surged to around $109,500, up 3.5% in 24 hours, recovering from a brief dip below $106,000.
2. The REX-Osprey Solana + Staking ETF (SSK) debuted with strong volume, reaching $20M, while SOLZ, a futures-based SOL ETF, saw only $1M in volume.
3. Key events in July include the potential passage of 'Big Beautiful Bill' (which could widen the U.S. deficit by $3.3 trillion), the July 9 tariff deadline, and the July 22 deadline for a crypto executive order.
4. Analysts note that crypto markets remain relatively calm with contained leverage, reducing the likelihood of a broad deleveraging event.
5. Bitcoin futures open interest surged nearly 10% as BTC approached $110,000, reflecting heightened market activity.
Description
Bitcoin BTC is bouncing hard towards $110,000 on Wednesday, shrugging off Tuesday's brief risk-off wave that dragged the price below $106,000. Recently, the largest crypto traded at its strongest price since June 11, around $109,500, up 3.5% over the past 24 hours. The action came as Donald Trump announced a trade deal with Vietnam, helping risk assets across the board. The Nasdaq at midday is ahead 0.8%. Under the deal, the U.S. will impose a 20% tariff on goods from Vietnam and a 40% levy on t...
Latest News
- Bitvavo Secures a MiCA License From the Netherlands2025-07-04 05:31:16
- Core Scientific Could Top $30 on CoreWeave Buyout Deal: Cantor Fitzgerald2025-07-04 05:30:46
- CoinDesk Weekly Recap: Stablecoins Dominate the Cycle2025-07-04 05:30:19
- Trump-Linked DeFi Project World Liberty Teams With Re7 for USD1 Stablecoin Vault2025-07-04 05:29:48
- CoinDesk 20 Performance Update: Filecoin (FIL) Drops 2% as Index Trades Lower2025-07-04 05:29:08