Bitcoin Nears $110K and Cryptocurrency Markets Bounce Back as Trump Pushes Back EU Tariffs

Cryptocurrency markets have seen an almost $100 billion increase over the past 12 hours in response to easing trade tensions following US President Donald Trump's decision to delay the 50% tariff on the European Union until July 9.

This unexpected move has caused significant market volatility and uncertainty among nations and investors regarding Trump's tariff policies.

Despite recent market turmoil, Bitcoin's value has risen by 1.5%, currently trading at $109,650. However, further market instability may be seen this week with the release of GDP and inflation data in the United States. The only concrete trade agreement to date has been with the United Kingdom, while discussions with the EU, the US's largest trading partner, are currently at a standstill.