Bitcoin’s price rose above US$109,000 early on July 07, 2025, reflecting a 1.16% increase over the past 24 hours, according to data from The Block.

The cryptocurrency had fallen to around US$108,000 over the weekend but regained momentum on July 06, 2025.

Bitcoin closed on July 06, 2025 at a record weekly high of US$109,443, based on information from Yahoo Finance.

Other cryptocurrencies also experienced gains, with Ether rising 2.41% to US$2,577, XRP increasing 2.29% to US$2.27, and Solana up 2.96% to US$152.

The price increase follows an announcement by US Treasury Secretary Scott Bessent on July 6, 2025.

He said that tariffs initially set for April will now take effect on August 1 for countries without trade agreements with the US.

This extension allows more time for negotiations and alleviates concerns about market volatility before the original July 9 deadline.

🔗 Source: The Block

🧠 Food for thought

1️⃣ Tariff announcements historically trigger crypto market volatility

The market’s positive reaction to extended tariff negotiations follows a consistent pattern of cryptocurrency sensitivity to trade policy news.

In 2019, Bitcoin demonstrated this relationship when its price surged by $200 to $10,400 following Trump’s tweets about new tariffs on China, marking one of the first instances where Bitcoin reacted in real-time to geopolitical trade news 1.

The 90-day pause on tariffs in April (now extended to August 1) provided market stability, illustrating how trade policy timelines directly influence investor sentiment in cryptocurrency markets 2.

This pattern highlights why traders are closely watching the tariff implementation date, as previous announcements have consistently triggered short-term volatility regardless of the direction of price movement.

2️⃣ Upcoming rate decisions may have stronger impact than tariffs

While tariff news is moving markets today, the upcoming CPI data release on July 15 could have an even more significant impact on Bitcoin’s trajectory.