Crypto market sentiment turns cautious ahead of the end of the $TRUMP -tariff pause on July 9, with $15 billion in bitcoin options expiring on Friday.
The crypto market is facing selling pressure just as the 90-day hiatus on Trump tariffs is likely to end soon, 13 days from now on July 9.
With the expiration of $17 billion of options on Friday, the price of Bitcoin is stable at $107,500, while altcoins such as Ethereum (ETH), XRP, Solana (%2-SOLGE), Do-2-500 press time.
Crypto market investors on edge ahead of Trump tariffs resumption
As geopolitical tensions with the Iran-Israel conflict appear to be behind us, crypto market investors are focusing on the end of the 90-day hiatus on Trump tariffs.
Arthur Hayes predicts a Bitcoin all-time high soon, pointing to some macro developments like the SLR Exemption, GENIUS Stablecoin Act, etc. as key drivers for digital assets.
According to Deribit data, a total of 139,392 bitcoin option contracts are set to expire on Friday, with a notional value of $14.9 billion.
The put-call ratio is currently at 0.74, which shows that the bulls are still in control, while the maximum pain point is $102,000.
Recent commentary from Greek.Live also notes that Bitcoin is "seeing mixed sentiment with traders facing flat or break-even results despite market momentum, with key resistance at 110k noted as a key level that may be difficult to breach".
On the other hand, the corporate race for $BTC reserves has already begun with strong Bitcoin ETF inflows, highlighting strong institutional demand. So far this week, net inflows have already surpassed $1.7 billion as of Thursday, with BlackRock's IBIT leading the charge.
Trump Tariffs Back in Spotlight, China Gets Deal
The broader crypto market sentiment reflects investors' cautious approach as President Trump's 90-day tariff suspension is set to expire in just 13 days on July 9. Investors are waiting for any new trade deal to happen. Some of the key changes expected with the Trump tariffs include:
Reintroduction of country-specific “reciprocal tariffs.”
Up to 50% tariffs on imports from the European Union.
Maintaining the global 10% baseline tariff rate.
Even after the pause on tariffs, the crypto market, along with global markets, has rallied, with the S&P 500 climbing nearly 1,200 points since April 9.
Additionally, US President Donald $TRUMP and US Commerce Secretary Lutnick said they had signed a US-China trade deal two days ago. In his speech on Thursday, President Trump said:
“We’re going to open up India. In the China deal, we’re starting to open up China. Things that never really could have happened. We just signed [a trade deal] with China. We’re not going to make deals with everybody… But we’re having some great deals. We have one coming up, maybe with India — a very big one.”
Investors are currently waiting on the sidelines, while hopes for a July Fed rate cut are rising again.