Global markets surged Monday after U.S. President Donald Trump confirmed a tariff agreement with the European Union, reducing levies to 15% from the previously threatened 30%. The announcement fueled optimism across equities and crypto, sending S&P 500 futures up 0.3% and Dow futures higher by 180 points. Bitcoin (BTC) spiked near $120,000 for the first time in nearly two weeks, just 5% below its all-time high.
Bitcoin, which had consolidated between $114,000 and $119,000, rallied as traders viewed the tariff rollback as easing macroeconomic uncertainty. Nassar Al Achkar, Chief Strategy Officer at CoinW, noted that despite fears of correction from old wallets moving BTC to exchanges, institutional adoption remains strong, with reserve strategies driving demand.
Ether (ETH) jumped 3.7% to $3,932, approaching the key $4,000 mark, its highest level since December. Analysts suggest ETH may outperform BTC in the coming weeks, mirroring historical market cycles. XRP climbed 2% to $3.30 amid renewed ETF speculation, while BNB led altcoin gains with a 6.3% rise. Dogecoin advanced 2% to $0.24, extending its weekly rally to 9%, while Solana (SOL) and Cardano (ADA) traded above $190 and $0.85, respectively.
July has marked a pivotal shift toward mainstream crypto adoption. Public companies are increasingly raising capital for digital asset treasuries, while banks race to launch crypto services to meet demand. Jeff Mei, COO at BTSE, called this a “structural shift” in investing strategies, pointing to the GENIUS Act and the industry’s $4 trillion market cap milestone.
Investors now await key catalysts, including the upcoming Federal Reserve meeting, inflation data, and Trump’s August 1 tariff deadline, which could fuel further volatility in equities and digital assets.
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