BlockBeats reports that on July 23, U.S. President Trump announced a historic agreement with Japan, where Japan will invest $550 billion and significantly open its market, with the U.S. set to obtain 90% of the profits, and automotive tariffs reportedly reduced to 15%. On the same day, Trump also announced trade agreements with the Philippines and Indonesia, allowing the U.S. to impose a 19% tariff. Coupled with the upcoming 50% copper tariff effective August 1, the global trade landscape is rapidly changing, and traders are accelerating shipments, leading to heightened market risk aversion.
Bitunix analyst suggests: In the cryptocurrency market, recent news has brought uncertainty, leading funds to focus on short-term operations. Although BTC has stabilized at the support level of $116,300, it has not effectively broken through the $120,000 range, and the oscillation pattern is evident. It is recommended that investors operate with a range mindset in the short term, with Bitcoin's support at $116,300 and resistance at $120,000. It is advisable to reduce positions during fluctuations; if it falls below $116,300, caution should be taken regarding the risk of a pullback.
