- Bitcoin maintains momentum above $119,000 following a key U.S.–EU trade deal.
- New trade agreement sets a 15% U.S. import tariff on E.U. goods, including a $600 billion investment package.
- Bitcoin market capitalization passes $1 trillion for the first time based on realized value.
- Major $9 billion Bitcoin transfer executed by Galaxy Digital sees limited impact on BTC price.
- Ether rises by 3% as Gold declines, and traders closely monitor shifting crypto and global markets.
Bitcoin traded at $119,430 in early Asian hours Monday after the United States and European Union announced a breakthrough trade agreement at Turnberry, Scotland. The agreement comes as digital assets continue to see increased institutional activity and renewed market optimism.
President Donald Trump and European Commission President Ursula von der Leyen set a 15% U.S. import tariff on E.U. goods and outlined a $600 billion investment from Europe into U.S. energy and defense over the next three years. This deal aims to lessen Europe’s dependence on Russian fuel and avoids the previously considered 30% tariff. Tariffs on steel and aluminum will remain at 50% for now.
The price of Bitcoin extended gains, rising 1.24%, according to CoinDesk. The CoinDesk 20 (CD20) Index rose 2.37% to 4,099.18. Data from Glassnode showed Bitcoin’s realized market capitalization—a figure measuring the total value of each coin based on its last transaction—exceeded $1 trillion for the first time.
Bitcoin’s recent rally, which saw prices top $122,700 last week, led to an increase in sales from long-term holders and attracted new buyers. BTC dominance, which represents Bitcoin’s share of the overall crypto market, edged down to 60.98%, indicating a slight increase in interest for other digital currencies.
Galaxy Digital executed a $9 billion transaction on Friday on behalf of a long-time Bitcoin investor. The deal, involving 80,000 BTC and part of an estate planning strategy, had little visible effect on the market, reflecting the current state of liquidity. According to analysts, the market’s ability to absorb such a large transaction signals limited supply from willing sellers.
On Polymarket, bettors raised the odds of Bitcoin reaching $125,000 by the end of July to 24%, up from 18% earlier.
Ether traded at $3,867.76, up 3%, with about 28% of all Ether staked—a process where coins are locked to help secure the network. Exchange balances for Ether reached eight-year lows, with fresh buyer inflows rising.
Gold continued to slide for a fourth session, trading around $3,335, despite a year-to-date gain of 28%, as progress on U.S.–EU and U.S.–China trade agreements reduced investor demand for safe havens ahead of the Federal Reserve’s upcoming meeting. In other crypto news, Michael Saylor and NYDIG plan to introduce a Bitcoin-backed money-market-style fund, a drug company said it will buy up to $700 million in BNB as the coin hits an all-time high, and a scheme involving fake Bitcoin ATMs reportedly wasted 4,000 hours of scammers’ time.
Asia-Pacific markets, including the Nikkei 225, traded mixed Monday as investors awaited developments in U.S.–China trade talks.
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