The post Bitcoin could retest $107k before rally resumes as Trump sets a new tariff date appeared on BitcoinEthereumNews.com.

Key takeaways BTC is trading below $109k and could retest the $107k region before rallying high. Market analysts believe Trump’s new trade negotiation date of August 1 will make Bitcoin less volatile. The cryptocurrency market was bullish over the weekend, with the major cryptos currently in the green. Bitcoin climbed above $109k on Sunday but has slightly retraced and could dip lower in the coming hours. Despite that, analysts remain optimistic about Bitcoin’s medium-term performance ahead of Trump’s trade deal negotiations in August. Analysts expect a less volatile July for Bitcoin July could be a quiet month in terms of trade deals as U.S. Treasury Secretary Scott Bessent announced Sunday that tariffs, initially revealed in April, will take effect on Aug. 1. The tariffs will take effect for countries without a trade agreement with the U.S.  Bessent warned that the tariff level will revert to April’s rates if negotiations fail before that date. While speaking to The Block, Jeff Mei, COO at BTSE commented that, “Traders previously were concerned about volatility leading up to the July 9 tariff deadline on Wednesday. It looks like markets are rallying after it was revealed countries will have more time to negotiate before tariffs take effect at the beginning of August.” According to Mei, the upcoming release of the U.S. consumer price index on July 15 will give investors an insight into whether inflation is low enough for the Federal Reserve to lower interest rates. An interest rate cut would be potentially positive for Bitcoin and could spur it to surpass its current all-time high price of $111k. BTC could refresh its record highs soon amid bullish sentiments The BTC/USD 4H chart is bullish and efficient as the bulls are currently in control of the Bitcoin market. The technical indicators suggest that Bitcoin could…

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Filed under: News - @ July 7, 2025 12:24 pm