Bitcoin is only 2% below its all-time high, and analysts suggest it may set new records as early as this week, driven by macro factors such as the possibility of US tariff delays and favorable seasonality after July 4. Market sentiment is positive, with BTC nearing $109,500 and supported by increased risk appetite among investors.
Bitcoin could set a new all-time high as early as this week, with all attention focused on the US trade tariffs deadline on Wednesday, which could boost risk appetite, along with the upcoming "Crypto Week" in the nation's capital.
"There is a high probability that Bitcoin will set a new all-time high this week or next," said Marcus Thielen, head of research at 10x Research, to Cointelegraph on Monday.
He added that seasonality after July 4 "is usually favorable, and markets largely ignore tariff-related risks."
July 9 is the deadline when the 90-day pause on US reciprocal tariffs ends.
"If the US delays tariffs again, markets may interpret that as an unwillingness to implement them, which would support risk appetite," say analysts at UBS Global Wealth Management in a note, according to The Wall Street Journal.
The price of Bitcoin was only 2% below the peak of May 22, briefly exceeding $109,500 in trading on Monday.
📊 Markets are already showing growth
Traders were previously concerned about volatility ahead of the July 9 deadline for tariffs, noted Jeff May, Chief Operating Officer of the BTSE exchange.
However, "it seems that markets are rising after it was revealed that countries will have more time to negotiate before tariffs take effect at the beginning of August," he told Cointelegraph, adding: "If we see good data on Tuesday, then it is likely that the growth will continue."
🔭 Potential for altcoin season
Meanwhile, Nick Rak, director at LVRG Research, told Cointelegraph that traders may "turn to altcoins in search of greater profit potential, as the second half of the year is expected to bring higher volatility and price jumps in digital assets."
"We expect Bitcoin to enter a new price discovery zone once it surpasses its all-time high," said Eugene Cheung, Chief Commercial Officer of the digital asset platform OSL, to Cointelegraph. "We are optimistic that more investors will turn to Bitcoin and Ethereum as a hedge against macro instability and potential inflationary pressures, as the Fed signals a strong chance of interest rate cuts this year."
