Bitcoin Hits $118,636 High Despite EU Tariff Notice

Bitcoin has shown remarkable resilience in the face of recent economic challenges, with its value reaching $118,500 and a daily high of $118,636. Despite the issuance of a recent EU tariff notice, market participants remain undeterred. Historically, similar events in April and early July led to significant market losses. However, recent patterns suggest a shift in market reaction, with participants becoming more accustomed to such events.

The cryptocurrency market has built a level of immunity to these tariff threats, much like the end of tensions with Iran where markets shrugged off threats, expecting resolutions. This experience reveals that tariffs have lost their intended impact, and the market has become more resilient to such announcements. The pattern of mixed signals from the U.S. administration, particularly involving the EU, Canada, China, and Mexico, has led to skepticism. Markets predict another similar scenario unfolding in August, as the predictability of such threats undermines their credibility.

As a result, the cryptocurrency market is largely dismissive of these tariff threats, relying on their growing resilience and relative stability. This resilience has paved the way for altcoins to thrive, with focus now turning to expert predictions set for Monday and an analysis of the persistent upward movement amidst risks. The main things to watch this week are whether BTC and ETH can maintain their recent breakouts and the outcome of 30% EU/Mexico tariffs. These tariffs are higher than the Independence Day tariffs, but because all other tariffs have been reduced or delayed, the market barely pays attention to them.

In summary, Bitcoin's resilience has allowed it to withstand recent economic challenges, with market participants becoming more accustomed to tariff threats. The cryptocurrency market has built a level of immunity to these threats, relying on their growing resilience and relative stability. This has paved the way for altcoins to thrive, with focus now turning to expert predictions and the persistent upward movement amidst risks. The main things to watch this week are whether BTC and ETH can maintain their recent breakouts and the outcome of 30% EU/Mexico tariffs.