Bitcoin Tops $109K as Trump Extends EU Tariff Deadline
Bitcoin rose above $109,600 on Monday, rising 1.4% after US President Donald Trump unexpectedly extended a deadline to impose steep tariffs on EU goods, easing market concerns and supporting risk assets.
The surge followed Trump’s decision late Sunday to push back the potential introduction of 50% tariffs on EU imports to July 9.
Just two days earlier, the president had threatened to enact the tariffs by June 1 due to slow progress in trade negotiations with the EU.
Trump Tariff Delay Signals Possible Thaw in US-EU Trade Tensions
The delay followed a productive call with European Commission President Ursula von der Leyen, who sought additional time to secure a favorable agreement. This de-escalation reduced fears of an imminent trade war, which had previously weighed on global markets.
Last month, Trump announced an initial 20% tariff on EU goods, but soon revised it to 10% with a grace period until early July. The shifting timeline reflects the administration’s unpredictable trade strategy, which has continued to rattle global markets.
However, investors welcomed the latest reprieve, viewing it as a sign of possible resolution and improved dialogue between Washington and Brussels.
Market sentiment had already begun to stabilize after a volatile stretch in April, when growth fears and aggressive trade posturing prompted a broad sell-off across asset classes. Analysts say the pause in tariff escalation has helped lift appetite for risk, leading traders to rotate into Bitcoin and other cryptocurrencies.
Bitcoin Hit ATH Above $111K on ETF Momentum and Risk-On Sentiment
The move in Bitcoin is also tied to broader structural demand. Last week, the asset briefly touched a record high of $111,814, buoyed by continued inflows from exchange-traded funds and corporate investors.
Spot Bitcoin ETFs saw net weekly inflows of $2.75b between May 19 and May 23, according to data provider SoSoValue. Ethereum ETFs posted $248m in inflows during the same period, with no outflows across the board.
Over the past 18 months, Bitcoin has outpaced the S&P 500 by more than 100 percentage points, cementing its role as a high-beta asset that draws capital during risk-on cycles. Investors have increasingly followed the lead of corporate buyers like MicroStrategy’s Michael Saylor, who helped normalize large-scale Bitcoin accumulation among institutions.
Monday’s rally serves as a reminder of how sensitive Bitcoin remains to macroeconomic developments, particularly shifts in US trade policy. While the de-escalation offered immediate relief, market participants remain cautious, mindful of how quickly sentiment can reverse in response to the next political move.
The post Bitcoin Tops $109K as Trump Extends EU Tariff Deadline appeared first on Cryptonews.
Read More
President Trump Supports Strategic Bitcoin Reserve Bill, Senator Lummis Says
Trump Media Drops $2.5B Bombshell for Record Bitcoin Treasury Bid
Bitcoin Tops $109K as Trump Extends EU Tariff Deadline
Bitcoin rose above $109,600 on Monday, rising 1.4% after US President Donald Trump unexpectedly extended a deadline to impose steep tariffs on EU goods, easing market concerns and supporting risk assets.
The surge followed Trump’s decision late Sunday to push back the potential introduction of 50% tariffs on EU imports to July 9.
Just two days earlier, the president had threatened to enact the tariffs by June 1 due to slow progress in trade negotiations with the EU.
Trump Tariff Delay Signals Possible Thaw in US-EU Trade Tensions
The delay followed a productive call with European Commission President Ursula von der Leyen, who sought additional time to secure a favorable agreement. This de-escalation reduced fears of an imminent trade war, which had previously weighed on global markets.
Last month, Trump announced an initial 20% tariff on EU goods, but soon revised it to 10% with a grace period until early July. The shifting timeline reflects the administration’s unpredictable trade strategy, which has continued to rattle global markets.
However, investors welcomed the latest reprieve, viewing it as a sign of possible resolution and improved dialogue between Washington and Brussels.
Market sentiment had already begun to stabilize after a volatile stretch in April, when growth fears and aggressive trade posturing prompted a broad sell-off across asset classes. Analysts say the pause in tariff escalation has helped lift appetite for risk, leading traders to rotate into Bitcoin and other cryptocurrencies.
Bitcoin Hit ATH Above $111K on ETF Momentum and Risk-On Sentiment
The move in Bitcoin is also tied to broader structural demand. Last week, the asset briefly touched a record high of $111,814, buoyed by continued inflows from exchange-traded funds and corporate investors.
Spot Bitcoin ETFs saw net weekly inflows of $2.75b between May 19 and May 23, according to data provider SoSoValue. Ethereum ETFs posted $248m in inflows during the same period, with no outflows across the board.
Over the past 18 months, Bitcoin has outpaced the S&P 500 by more than 100 percentage points, cementing its role as a high-beta asset that draws capital during risk-on cycles. Investors have increasingly followed the lead of corporate buyers like MicroStrategy’s Michael Saylor, who helped normalize large-scale Bitcoin accumulation among institutions.
Monday’s rally serves as a reminder of how sensitive Bitcoin remains to macroeconomic developments, particularly shifts in US trade policy. While the de-escalation offered immediate relief, market participants remain cautious, mindful of how quickly sentiment can reverse in response to the next political move.
The post Bitcoin Tops $109K as Trump Extends EU Tariff Deadline appeared first on Cryptonews.
Read More
President Trump Supports Strategic Bitcoin Reserve Bill, Senator Lummis Says