Bitcoin
It bounced violently at $110,000 on Wednesday, dragging prices below $106,000 from Tuesday’s short risk-off wave.
Recently, the largest crypto traded at the strongest price for around $109,500 since June 11, an increase of 3.5% over the past 24 hours.
The lawsuit comes as Donald Trump announced his trade agreement with Vietnam to support full risk assets. The Nasdaq is 0.8% off at noon.
Under this agreement, the US will impose a 20% tariff on goods from Vietnam and a 40% collection on transshoot goods. Production routed through Vietnam on the way to Usas exports will not face tariffs when entering the Vietnamese market.
Enhancing Crypto-feeling could be the debut of Rex-Soprey Solana + StakingETF (SSK), the first such crypto staking product available in the US
“Currently, the $SSK volume is $20 million, which is very strong, the top 1% of new launches,” wrote Bloomberg analyst Eric Balknas a while ago. Balchunas noted that Solz, a futures-based Sol ETF that opened for business in March, had just $1 million in volume on the first day of trade.
July could grow (in either direction)
According to Vetle Lunde, K33’s research director, July is becoming a potentially unstable month for Bitcoin, driven by Trump administration policies.
Trump is expected to sign a controversial expansion budget bill called the “Big Beautiful Bill” by Friday. The bill, which could increase the US deficit by $3.3 trillion, is considered bullish for rare assets like BTC, Lunde said.
Another important date is the customs deadline for July 9th. This allows us to see a more aggressive trade stance from Trump.
Third, July 22nd is the final deadline for the much-anticipated crypto executive order lawsuit, with potential updates regarding the US strategic Bitcoin reserve.
“July will be crowded with potential Trump volatility,” Runde said. Still, the crypto market is relatively mild without excessive bubbles, he pointed out.
“There is little reason to expect a massive, broad derevalization of the crypto market, as crypto leverage remains contained,” he said. “This supports maintaining spot exposure and patient retention as we progress through a well-known period of seasonal indifference.”
