Bitcoin Price Today: Holds Above $119K as Trade Deal Boosts Risk Appetite
Bitcoin traded above $119,000 on Monday, recovering from recent two-week lows. The rebound came as the new U.S.–EU trade agreement improved market sentiment and increased risk appetite among investors.
Despite the slight rise, Bitcoin remained range-bound as traders stayed cautious ahead of two key events: the Federal Reserve’s interest rate decision and the upcoming U.S. crypto policy report scheduled for July 30.
As of 02:18 ET (06:18 GMT), Bitcoin was trading at $119,552.6, up roughly 1.1% for the day.
U.S.–EU Trade Deal Calms Markets
The U.S.–EU trade pact, announced on Sunday, helped calm market nerves. It introduced a 15% tariff on European imports, lower than the previously threatened 30% rate. The agreement also included plans for the EU to purchase $750 billion worth of U.S. energy and invest heavily in defense and infrastructure.
This deal eased global trade uncertainty and political risk, encouraging investors to move funds away from safe-haven assets like bonds into riskier assets, including Bitcoin and equities.
All Eyes on Fed and Crypto Regulation
Markets now await the Federal Reserve’s two-day meeting, which concludes on Wednesday. The Fed is widely expected to keep interest rates steady at 4.25%–4.50%.
However, traders are closely watching for any signals of future rate cuts. A dovish tone from the Fed could support Bitcoin and other cryptocurrencies, as it may reduce the appeal of traditional low-yield assets.
Another major event is the release of the U.S. crypto policy report on July 30. The report is expected to propose a strategic Bitcoin reserve and outline clearer regulations for sectors such as stablecoins.
Greater regulatory clarity is seen as a positive signal for institutional investors, potentially boosting long-term confidence in the crypto market.
Altcoins Rally; Ether Hits 7-Month High
While Bitcoin posted modest gains, altcoins saw stronger momentum on Monday, fueled by trade optimism and improving sentiment in the broader market.
- Ethereum (ETH) surged 4% to $3,924.15, marking its highest level since mid-December 2024.
- XRP rose 3.2% to $3.30.
- Solana climbed 3.5%, while Cardano added 2.4%, and Polygon gained 2.2%.
- In meme tokens, Dogecoin advanced 4%, and $TRUMP rose 2.2%.
Despite gains across the board, Bitcoin’s price remained in a narrow trading range, reflecting continued caution. While the trade deal has lifted optimism, macroeconomic risks and uncertainty around Fed policy are keeping major price breakouts in check.
