Bitcoin is the biggest gainer as reports of an imminent US-EU trade deal emerge ahead of Donald Trump’s August 1. BTC price is marching on toward $118,500 while the rest of the market makes a valiant attempt to mirror the largest cryptocurrency.
BTC Price Gains After A Rough Trading Day
According to CoinMarketCap data, Bitcoin price is showing early signs of a rally after racking impressive hourly gains. At press time, the largest cryptocurrency is barreling toward the $118,500 mark in a flash rally driven by new macroeconomic sentiment.
The flash rally came on the back of daily trading volumes of $64.45 billion, while the market capitalization spiked to $2.3 trillion. On the seven-day chart, BTC price gained a modest 1% but over a month, the largest cryptocurrency has risen by nearly 20%.
Early in the day, Bitcoin and the rest of the crypto market crashed amid Donald Trump’s threats to impose higher tariffs on countries. Leading cryptocurrencies tumbled, with the global cryptocurrency market capitalization shedding nearly $40 billion.
This is a developing story.
✓ Share:
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
