According to @FoxNews, major cryptocurrencies including Bitcoin (BTC), XRP, and Dogecoin (DOGE) experienced a rally following comments from U.S. Treasury Secretary Scott Bessent hinting at new trade deals before the July 9 tariff deadline. The source reports that Bitcoin gained over 1%, briefly surpassing $109,000, while XRP and Solana (SOL) each rose over 2%, and Dogecoin (DOGE) saw a 3% increase. This positive market sentiment is linked to Bessent's statement that a failure to secure deals by July 9 would result in higher tariffs being reinstated on August 1, per a Reuters report of his CNN interview. The easing of trade tensions has also led to a significant drop in U.S. recession odds for 2025 on the crypto prediction platform Polymarket, which have fallen to 22%, the lowest since late February. This marks a reversal from April when recession fears peaked after President Trump's 'Liberation Day' tariff announcement caused BTC to drop to $75,000.

According to @cas_abbe, major cryptocurrencies including Bitcoin (BTC), XRP, and Dogecoin (DOGE) experienced a rally following positive remarks from U.S. Treasury Secretary Scott Bessent. Bessent indicated in a CNN interview that several trade deals are close to being finalized before the critical July 9 tariff deadline, as reported by Reuters. This news spurred Bitcoin to briefly surpass $109,000 with a 1% gain, while XRP and Solana (SOL) each rose over 2%, and Dogecoin (DOGE) saw a 3% increase, according to the source article. Traders are closely watching this macroeconomic development, as the failure to secure deals by July 9 could lead to the reinstatement of higher tariffs on August 1, a scenario that previously caused a sharp market downturn with BTC falling to $75,000 on April 2.

According to @StockMKTNewz, major cryptocurrencies including Bitcoin (BTC), Dogecoin (DOGE), and XRP experienced a rally following comments from U.S. Treasury Secretary Scott Bessent hinting at potential trade deals before the July 9 tariff deadline. The source indicates Bitcoin gained over 1% to trade above $109,000, while XRP and Solana (SOL) rose over 2% and DOGE increased by 3%. In a separate development providing regulatory clarity, U.S. Senator Tim Scott announced a new deadline of September 30 for completing the crypto market structure legislation. The source notes this timeline is later than President Trump's preference but earlier than a previous year-end prediction, signaling a concrete path forward for U.S. crypto regulation despite potential delays from the House regarding a related stablecoin bill.

According to Milk Road, the escalating trade war between the US and China has resulted in increased tariffs and a ban on Nvidia chip exports. This move might significantly affect cryptocurrency mining operations and market dynamics, as Nvidia's chips are crucial for mining hardware. Traders should monitor these developments closely, as they could lead to shifts in mining costs and market supply for cryptocurrencies.

According to Edward Dowd, the impact of trade tariffs is significant on financial assets and inflation, likening it to a tax hike that could lead to lower economic growth. Dowd emphasizes that trade tariffs affect different global regions distinctly, influencing trading strategies and market volatility. Citing the analysis, he suggests that traders should closely monitor these economic indicators as they adjust their portfolios accordingly.

According to Michaël van de Poppe, the cryptocurrency market may experience volatility due to uncertainties related to trade tariffs imposed by Trump. Van de Poppe suggests that this situation could lead to a 'Sell the rumor, Buy the News' scenario, where traders might sell off assets based on rumors and buy back upon news confirmation. This pattern is critical for traders to monitor as it could impact short-term trading strategies.