After Trump's announcement regarding the 30% tariff on EU products, the President of the EU, von der Leyen, issued a statement affirming their willingness to continue working towards an agreement before August 1. However, she added that they would take necessary measures to safeguard EU interests, including the adoption of proportional countermeasures if necessary.
Japan also declared that it is working to reach an agreement with the U.S. before the August 1 deadline, which is also positive for the price of BTC. Meanwhile, there is also the possibility that a TACO operation is occurring, which could explain why Bitcoin managed to reach new highs amid these recent events.
The initial trade deadline was July 9, but Trump ultimately extended it to August 1. TACO refers to “Trump Always Chickens Out,” a market term used by Wall Street experts to describe how prices initially fall due to fear of tariff announcements, but recover due to the likelihood that the president will not follow through on his threats.