In anticipation of the upcoming week, cryptocurrency enthusiasts scanning the charts find themselves optimistic. Despite encountering negative market events, Bitcoin‘s resilience has paved the way for altcoins to thrive. Focus now turns to expert predictions set for Monday and an analysis of the persistent upward movement amidst risks.
Will Bitcoin’s Price Sustain?
Currently, Bitcoin’s value has reached $118,500, reaching a daily high of $118,636. Despite the issuance of a recent EU tariff notice, market participants seem undisturbed. History shows that similar occurrences in April and as recently as early July led to significant market losses. However, recent patterns indicate a shift in reaction.
The typical boring weekend. BTC is loitering around Friday’s CME closing price. As we approach the reopening of futures on Monday, I expect volatility to rise again in a few hours. The main things I’ll watch this week are whether BTC and ETH can maintain their recent breakouts and the outcome of 30% EU/Mexico tariffs. These tariffs are higher than the Independence Day tariffs, but because all other tariffs have been reduced or delayed, the market barely pays attention to them.
How Have Markets Built Immunity?
The situation mirrors the end of tensions with Iran, where markets shrugged off threats, expecting resolutions, which triggered a bullish trend even before a truce was established. This experience reveals that tariffs have lost their intended impact.
- January: President Trump promises immediate tariff announcements.
- February: Insists tariffs are non-negotiable unless others reduce theirs.
- A few days later, a three-month delay was granted.
- By June, an ultimatum was set for immediate implementation in July.
- However, another extension is granted until August 1.
This pattern of mixed signals from the U.S. administration, particularly involving the EU, Canada, China, and Mexico, has led to skepticism. Markets predict another similar scenario unfolding in August, as the predictability of such threats undermines their credibility.
Consequently, the cryptocurrency market is largely dismissive of these tariff threats, relying on their growing resilience and relative stability.
