Bitcoin Approaches $110,000 and Altcoins Climb up to 3%

Quick overview

The leading cryptocurrency is trading above $109,300 amid renewed optimism surrounding U.S. trade agreements with China and Vietnam.

Bitcoin is up 0.8% to $109,388 in an international context marked by encouraging signals in U.S. trade relations. The rally comes amid rising appetite for risk assets, boosting not only cryptocurrencies but also global stock markets.

In this environment, altcoins are climbing as much as 3%, led by Ethereum (ETH), which is up 3.3% to $2,577.25. XRP (XRP) follows with a 1.9% gain to $2.25. Meanwhile, BNB (BNB) slips 0.7% to $657.83, and Solana (SOL) edges down 0.1% to $150.90. Tron (TRX) advances 1.0% to $0.2843, and the memecoin Dogecoin (DOGE) rises 3% to $0.1705.

U.S. Measures Fuel Risk Appetite

The announcement of a new trade agreement between the United States and Vietnam—the third deal secured by Washington ahead of the July 9 deadline—has raised expectations of further bilateral breakthroughs. This follows the U.S. government’s recent move to ease export restrictions on semiconductor technology to China as part of a strategic pact with Beijing.

At the same time, Donald Trump’s tax reform plan took a significant step forward in Congress. The House of Representatives approved a motion to begin final debate on the bill, despite internal tensions within the Republican Party.

Markets responded positively: the S&P 500 reached a new all-time high, reinforcing the bullish momentum on Wall Street. Digital assets were among the beneficiaries of this improved sentiment.

Bitcoin is testing the upper end of its consolidation range in what they describe as a perfect storm of favorable macroeconomic factors. Strong inflows into exchange-traded funds (ETFs), declining balances on crypto exchanges, and growing political pressure on the Federal Reserve.

Volatility remains subdued, creating opportunities for strategic positioning. The bullish momentum that has supported Bitcoin since April is not only intact but now underpinned by fresh fundamentals. With solid trends in recent months, the cryptocurrency is now aiming to consolidate above the $110,000 level—a key threshold for technical analysts.

ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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