1. Bitcoin Leads the Rally
Price Surge: Bitcoin $BTC
rebounded sharply on Binance, trading at $109,283 as of 10:18 AM KST (Korean Time), up 1.74% in 24 hours. This recovery followed President Trump’s announcement to delay imposing 50% tariffs on EU goods, easing geopolitical tensions .
Earlier in the day, BTC dipped to $106,000 (May 23) due to tariff fears but surged 3% intraday post-announcement .
On-chain data shows 12,000 BTC net inflows into exchanges, signaling accumulation by institutional players .
2. Altcoins Follow Bitcoin’s Momentum
Top Performers on Binance:
Solana $SOL
Gained 1.5% to $145, driven by DeFi activity and a 20% spike in trading volume .
Ethereum $ETH
Rose 2.8% against BTC, trading at $3,450, with technical support at its 50-day MA ($3,500) .
Meme Coins: Assets like Dogecoin (DOGE) rebounded alongside Bitcoin, though DOGE remains volatile (-3.29% weekly) .
3. Trading Volume and Institutional Activity
Spot Volume Spike: Bitcoin’s 24-hour spot trading volume on Binance surged 18% to $25.3 billion, reflecting strong retail and institutional participation .
ETF Inflows: U.S. Bitcoin ETFs recorded $2.75 billion in net inflows last week, with institutions hedging amid stock market volatility .
Futures Activity: Bitcoin futures open interest on Binance rose 10% to $8.5 billion, indicating leveraged bullish bets .
4. Technical Indicators Signal Bullish Momentum
RSI Levels: Bitcoin’s 4-hour RSI climbed to 62, avoiding overbought territory, while ETH’s RSI rebounded to 40 after a brief dip .
Key Support/Resistance:
BTC reclaimed its 200-day MA ($67,500) and faces resistance near $110,000, its all-time high .
ETH must break above $3,500 to confirm a sustained rally .
5. Macro Factors Driving the Rebound
Stock Market Correlation: The S&P 500’s record high (5,300 points) and Nasdaq’s 1.5% gain fueled risk-on sentiment, boosting crypto .
Tariff Relief: Trump’s tariff delay until July 9 reduced macroeconomic uncertainty, directly impacting Bitcoin’s rebound .
Institutional Hedging: Crypto-related stocks like MicroStrategy (MSTR) rose 5.3%, reflecting spillover confidence .
