Bitcoin, Dogecoin, XRP Rise as Bessent Hints at Trade Deals Before Liberation Day Tariff Deadline

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Cryptocurrencies Rally on Trade Deal Optimism

Major cryptocurrencies saw gains as U.S. Treasury Secretary Scott Bessent hinted at potential trade agreements before the July 9 tariff deadline.

Key Market Movements

Bitcoin rose 1%, briefly surpassing $109,000.
XRP and Solana (SOL) gained over 2%, while Dogecoin (DOGE) surged 3%.
Ethereum (ETH) increased 1.5% to $2,550.

Trade Negotiations & Tariff Deadline

Bessent stated that the U.S. is nearing trade deals before the July 9 deadline, when a temporary tariff pause expires. If negotiations fail, higher tariffs (announced in April) will take effect August 1.

President Trump’s administration has used tariffs as leverage to rebalance trade relations, with initial rates ranging from 10% to 50%. The April 2 announcement triggered a market sell-off, briefly crashing Bitcoin to $75,000.

Market Recovery & U.S. Exceptionalism

After a 90-day pause, U.S. equities and Bitcoin rebounded strongly. The S&P 500 and Nasdaq hit record highs, while BTC reclaimed $100,000+.

The outcome of trade talks could further influence crypto and traditional markets in the coming weeks.

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