- Bitcoin surged past $109,000 after Donald Trump delayed the 50% EU tariff deadline to July 9, easing global trade tensions.
- The crypto market responded positively, with major altcoins like Ethereum and Solana also posting gains.
Bitcoin Bounces on Trade War Timeout
Bitcoin skyrocketed past $109,000 late Sunday after former President Donald Trump announced he would delay a proposed 50% tariff on EU imports, originally set for early June. The digital asset, which had plunged below $107,000 over the weekend, staged an impressive rebound following Trump’s decision to push the deadline to July 9.
The announcement came via Trump’s Truth Social post, where he credited European Commission President Ursula von der Leyen’s “decisive” engagement as the reason for the extension. The move temporarily diffuses growing trade tensions between Washington and Brussels and reignites optimism among crypto investors.
Crypto Market Regains Confidence
The delay sparked an immediate rally in the crypto market, with Bitcoin climbing over 3% intraday and recapturing the $109K mark—just 2.5% shy of its all-time high of $111,900 set earlier this week. The sudden price surge of over 1,900 points in minutes sent a strong signal of renewed investor confidence.
Ethereum (ETH), XRP, and Solana (SOL) also mirrored Bitcoin’s rally, each posting solid gains in the wake of the news. Analysts suggest that the easing of macroeconomic uncertainty played a significant role in the rebound.
Altcoins Join the Ride
Altcoins didn’t sit on the sidelines. Hyperliquid’s HYPE token soared from $25.70 to $39, notching an eye-catching 46% weekly gain. Meanwhile, the WLF token—associated with OpenAI CEO Sam Altman’s Worldcoin project—rallied nearly 25% after securing $135 million in fresh funding from Andreessen Horowitz and Bain Capital Crypto.
The funding aims to supercharge the rollout of Worldcoin’s iris-scanning Orbs, expanding biometric identity tools across the US and abroad.
With the tariff deadline now shifted to July 9, traders are eyeing the next moves in US-EU trade negotiations closely. For now, the delay has reignited bullish momentum in crypto markets, proving once again how global politics can send shockwaves—or spark rallies—across digital assets.
