Bitcoin surged following the U.S. decision to soften its 50% trade tariff threats on European imports, offering temporary relief to global markets. Analysts suggest Bitcoin’s next major resistance is near $112,000.
“Bitcoin has rebounded after the U.S. eased its 50% tariff stance on Europe. Breaking past $112,000 is crucial for sustaining its rally,” said Vikram Subburaj, CEO of Giottus.
The upswing comes after Bitcoin hit a record $112,000 last week, fueled by rising institutional interest and positive global crypto regulation sentiment. Despite recent volatility tied to macroeconomic events, the market outlook remains optimistic.
“Bitcoin continues to gain from post-halving supply constraints and growing on-chain activity,” noted Sathvik Vishwanath, CEO of Unocoin. “Long-term investors may see pullbacks as buying opportunities.”
Corporate adoption further boosted momentum. DDC Enterprise, an Asia-based food giant, purchased 21 BTC as part of a plan to acquire 5,000 BTC for its treasury. Meanwhile, Pakistan allocated 2,000 megawatts to support Bitcoin mining and AI data centers, per CoinSwitch Markets Desk.
Edul Patel, CEO of Mudrex, commented, “Bitcoin’s swift recovery underscores its strength, with daily exchange inflows down 80%. Strong fundamentals and reduced selling pressure set the stage for further gains.”
Altcoins also saw gains: Solana up 3.2%, Cardano 4.6%, Dogecoin 3.6%, and Chainlink 4%. Avalanche led with a 5% increase, while XRP, Stellar, Shiba Inu, Sui, and Hedera recorded smaller gains.
Bitcoin’s market dominance climbed to 63.2%, with a market cap of $2.184 trillion. Daily trading volume fell 3.2% to $47.57 billion, per CoinMarketCap.