Cryptocurrency markets demonstrated significant resilience and optimism over the weekend, with major assets posting notable gains Sunday morning. The rally was largely fueled by comments from U.S. Treasury Secretary Scott Bessent, who hinted at the finalization of several key trade deals before a critical July 9 deadline. This positive sentiment overshadowed the more subdued and cautious tone observed on Friday, when renewed trade tensions with Canada failed to significantly rattle digital asset prices. Bitcoin (BTC) led the charge, surging over 1% to briefly reclaim the $109,000 level. According to trading data, the BTC/USDT pair reached a 24-hour high of $109,656.72 before settling around $108,173, reflecting a dynamic but bullish session. The move signals that traders are prioritizing macroeconomic optimism over isolated geopolitical spats, creating a favorable environment for risk assets.

Bitcoin and Altcoins Rally on Trade Deal Hopes

The market-wide uplift was not confined to Bitcoin. Ethereum (ETH), the second-largest cryptocurrency, climbed 1.5% to trade at $2,550. The ETH/USDT pair showed strong momentum, hitting a daily high of $2,603.59 on significant volume. Other major altcoins joined the rally, indicating broad-based market strength. Ripple's XRP token, a key player in the payments space, gained over 2%, with the XRP/USDT pair trading actively between a low of $2.2576 and a high of $2.3517. Solana (SOL) also saw a gain of over 2%, though its 24-hour data showed a slight pullback to $148.52 after reaching a high of $153.43. Perhaps most notably, the popular meme token Dogecoin (DOGE) jumped 3%, with the DOGE/BTC pair showing a 1.8% increase, suggesting renewed retail interest. The positive price action was a direct response to Bessent's interview with CNN, where he stated that deals were imminent, a development confirmed by reports from Reuters. He warned that countries failing to finalize agreements by July 9 would see tariffs revert to higher April 2 levels on August 1, a powerful incentive for resolution.

Contrasting Market Dynamics and Stock Performance

This weekend's optimism stands in stark contrast to the market's muted reaction on Friday to President Trump's announcement of terminating trade discussions with Canada over a proposed Digital Services Tax. While this news could have sparked volatility, crypto markets remained largely unfazed. Bitcoin saw a minor 0.7% dip, a move that Coinbase analysts noted was disregarded by the broader market due to a lack of immediate reflection in economic data. However, crypto-related equities felt a greater impact. Coinbase's stock (COIN) fell 6%, while Circle (CRCL) experienced a more severe 16% drop. This divergence highlights a potential decoupling, where direct crypto asset prices are more influenced by global macro sentiment, while crypto company stocks remain sensitive to specific regulatory and business headwinds. In a separate but related development, the AI sector's crossover with crypto was highlighted when Bitcoin miner Core Scientific (CORZ) surged over 30% on Thursday following reports of a potential acquisition by AI firm CoreWeave, though it remained flat on Friday.

Trader's Outlook: Key Levels and Macro Factors

For traders, the current environment presents both opportunities and risks. For Bitcoin, the immediate challenge is to solidify support above the $108,000 level and break past the recent high near $109,600. A successful breach could open the path toward the psychologically important $110,000 mark. Failure to hold current levels could see a retest of support near the 24-hour low of $107,570. For Ethereum, holding the $2,500 support level is crucial, with the next major resistance at the $2,600 psychological barrier. The ETH/BTC pair, trading around 0.02363, shows Ethereum slightly underperforming Bitcoin in the immediate term, a key metric for traders allocating capital between the two giants. The overarching factor remains the July 9 tariff deadline. While Bessent's comments have injected confidence, any sign of negotiations faltering could quickly reverse gains. Traders should remain vigilant, monitoring not only crypto-specific indicators but also broader market news and the performance of correlated assets like the S&P 500 and Nasdaq, which have also been buoyed by hopes of continued U.S. economic strength.