As June approaches its end, Bitcoin (BTC) price has stabilized around $107,000. While the cryptocurrency markets maintain their uncertainty under the influence of tariff tensions between the US and the European Union, investors are closely monitoring price movements. Following the harsh reaction from US President Trump last Friday, the European Union's more cautious and non-escalating stance increases the likelihood of a compromise between the two sides.
Current Status of Bitcoin
In the volatile market over the last seven months, Bitcoin has not been able to make strong closes above the $106,300 level for a long time. However, the recent increase in stable closes at these levels is viewed positively by analysts. Especially if there are closures above $108,300, Bitcoin is expected to aim for new peak levels.
In the case of a potential decline, $105,800 stands out as critical support. Closures below this level could increase the risk of a pullback to $100,165. Experts anticipate that the markets will enter a recovery process with the announcement of tariff agreements in the coming days.
"In the first quarter of the year, tariffs created negativity, in the second quarter, bargaining was at the forefront. Now, a recovery is expected with the anticipation of an agreement, followed by an upward trend towards the end of the year."
General Overview of the Cryptocurrency Market
The total cryptocurrency market cap has risen again to the level of $3.3 trillion. However, on Sunday, trading volumes decreased by about 30%, falling to $65 billion. While Bitcoin's market dominance continues, Ethereum (ETH) price is stuck below $2,500. Especially geopolitical tensions in the Middle East are preventing ETH from testing the $3,000 level.
New tariff agreements in the US and changes in tax policies from the Trump era are expected to have positive effects on the markets. The new tax law, which came into effect with the support of undecided senators, has provided additional liquidity to financial markets, and this development is anticipated to lead to positive movements in crypto assets.
"Incentives provided to the lower income group will provide liquidity support to the markets, which will work in favor of cryptocurrencies."
Highlights in the Altcoin Market
This week, PENGU coin achieved a strong increase of around 60% among altcoins. Additionally, projects such as SEI, SYRUP, and FARTCOIN gained value between 30% and 44%. Other altcoins have not yet captured the expected movement.
While the general calmness in the markets continues, macroeconomic developments and anticipated tariff agreements will play a critical role in determining the direction of the cryptocurrency markets.
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