Bessent ignites the crypto market with a single sentence: Bitcoin surges past $109,000, tariff panic temporarily eases leading to a full-scale rebound!
On Sunday, the crypto market collectively strengthened, primarily driven by U.S. Treasury Secretary Bessent's signals of easing tariff expectations. He clearly stated that while July 9 is the deadline for trade negotiations, if no agreement is reached, high tariffs will only resume on August 1, rather than immediately as previously feared. This alleviation of immediate tax risks directly boosted the sentiment for risk assets.
BTC led the charge, rising over 1% to break $109,000, with $XRP , $SOL , $DOGE following suit with increases of 2%-3%. ETH also rebounded 1.5% to $2,550. Reflecting on the tax announcement on April's Liberation Day, which caused Bitcoin to plummet to $75,000, the subsequent 90-day pause allowed the market to catch its breath. Bessent's statement effectively delays the tax timetable, temporarily easing market fears of escalating trade wars, prompting funds to flow back into risk assets. However, vigilance is required regarding the progress of negotiations post-July 9. If an agreement is not reached, the resumption of tariffs on August 1 could once again impact the market.
The market has experienced a crash, and next, I will prepare some suitable coins for bottom-fishing as part of a recovery plan. If you feel lost and helpless, follow me! Choice is more important than effort!
