Bitcoin Surges Past $108K as Risk Appetite Grows on Trade Hopes and Rate Cut Bets
Bitcoin climbed on Monday alongside other cryptocurrencies, as investor appetite for risk improved due to rising optimism over U.S. trade negotiations and the possibility of interest rate cuts.
The world’s largest cryptocurrency rose by 1% to $108,358.7 as of 08:10 AM Saudi time, breaking out of a narrow trading range that dominated most of June.
Risk sentiment was bolstered after Canada canceled its digital services tax on U.S. firms and proposed resuming trade talks with Washington, aiming for a deal by July 21. Meanwhile, Japan also signaled progress in its trade discussions with the U.S., and a new U.S.-U.K. trade agreement came into effect on Monday.
Markets are now hopeful that the U.S. will finalize additional trade deals with major economies before the July 9 deadline, when heightened tariffs initiated by President Donald Trump are set to be enforced.
📈 Bitcoin Set for Third Straight Monthly Gain
Bitcoin is on track to post gains for the third consecutive month, up 3.6% in June. A mix of optimism around U.S. trade policy, progress in crypto regulation, and increased bets on Fed rate cuts fueled risk-on flows into digital assets.
The cryptocurrency also touched a record high earlier this month.
A major driver of confidence was the advancement of a stablecoin regulatory bill through Congress, highlighting former President Trump’s commitment to supporting crypto-friendly legislation.
Further signs of adoption came from U.S. mortgage giants Freddie Mac and Fannie Mae, who indicated interest in accepting cryptocurrencies as collateral for home loans.
Additionally, geopolitical tensions eased last week after a ceasefire between Israel and Iran, supporting broader risk sentiment.
🔄 Altcoins Rise, But Lag Behind Bitcoin in June
The broader crypto market rose Monday, buoyed by growing expectations that the Federal Reserve may start cutting interest rates as early as September.
However, most altcoins significantly underperformed Bitcoin in June. Investors remained heavily focused on Bitcoin due to its regulatory progress and increased institutional buying.
Ethereum (ETH) rose 2.8% on Monday, but fell 1% over the month.
XRP gained 0.3% daily and 0.9% for June.
Solana (SOL) traded down 3.4% in June.
Cardano (ADA) was the worst-performing major altcoin, dropping nearly 17%.
Among meme tokens:
$TRUMP fell nearly 20% in June.
Dogecoin (DOGE) lost around 13%.
Bitcoin’s dominance remains strong as institutional adoption and political developments continue to favor the leading digital asset.
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