Bitcoin Regains $110K After Weekend Sell-Off; ADA, DOGE Lead Uptick in Crypto Majors
Bitcoin’s price rebounded to just under $110,000 on Monday, recovering from a weekend sell-off triggered by President Trump’s tariff threats against the European Union. The initial announcement caused a sharp decline in Bitcoin, along with other digital assets. However, a temporary easing of trade tensions, including an extension of the tariff deadline to July 9th, led to a market recovery.
The weekend sell-off saw Bitcoin plummet from over $111,000 to a low of $108,600. This risk-off sentiment resulted in over $500 million in liquidations across the cryptocurrency market, impacting Bitcoin, Ether, Cardano, Solana, and Dogecoin futures. Cardano (ADA) and Dogecoin (DOGE) subsequently saw gains of up to 3% in the following 24 hours.
The broader market also experienced a rebound, with US and European equity futures gaining over 1%. The dollar weakened to multi-month lows, and demand for safe haven assets like gold and Treasuries decreased. This overall positive shift in global risk appetite contributed to Bitcoin’s recovery.
Jeff Mei, COO of BTSE, commented that while the weekend’s dip highlighted crypto’s vulnerability to macroeconomic shocks, the swift extension of the tariff deadline suggests the worst may be over. He noted that traders are cautiously resuming accumulation.
Options market activity indicates growing optimism. QCP Capital reported increased demand for bullish positions, with a significant number of September $130,000 Bitcoin call options being purchased. The firm cited a positive medium-term outlook, supported by consistent ETF inflows, regulatory progress in the US, and sustained institutional investment. This includes Strategy’s recent $2.1 billion fundraising round for further Bitcoin acquisition. The recovery suggests a combination of factors, including the easing of trade tensions and continued institutional interest, are driving Bitcoin’s price upward.
