Bitcoin News Today: Bitcoin Rallies 1% on U.S.-EU Tariff Cut, Nears $120K ATH

The cryptocurrency market experienced a significant shift over the weekend as Bitcoin (BTC) approached the $120,000 resistance level, raising speculation about a potential new all-time high (ATH). After a week marked by over $200 billion in market losses, optimism returned following a macroeconomic development: U.S. President Donald Trump announced a tariff reduction agreement with the European Union, lowering levies from 30% to 15%. This news triggered a 1% rally in Bitcoin, pushing its price to $119,014 and positioning it near key technical thresholds [1].

Institutional activity further underscored the market’s momentum. Japanese firm Metaplanet added 780 BTC to its holdings in a single transaction worth $92.5 million, averaging $118,622 per bitcoin. The company now owns 17,132 BTC, valued at approximately $2 billion at current prices, with an average purchase price of $101,030. Analysts attribute the sustained buying pressure to growing institutional demand, as highlighted by Nassar Al Achkar, Chief Strategy Officer at CoinW, who noted that “numerous institutions continue to onboard into the crypto industry and utilize reserve strategies” [1].

Technical indicators reinforced the bullish narrative. The BTC/USD 4-hour chart showed a shift in market structure, with the Relative Strength Index (RSI) at 53 and the Moving Average Convergence Divergence (MACD) entering positive territory. These signals suggest buyers are regaining control, aligning with the weekly candle’s bullish close. According to analysts, if Bitcoin closes its daily candle above $120,000, it could target the $123,000 level, a previous ATH, and potentially push further to $125,000 or higher [1].

However, caution remains necessary. A failure to break above $120,000 could trigger a correction, testing the $115,000 support level. An extended downturn might see BTC retest the 50-day Exponential Moving Average (EMA) at $112,350. Nassar Al Achkar emphasized that while short-term buying pressure persists, “old wallets with tens of thousands of BTC began transferring funds to exchanges, which led some traders to fear a market correction” [1].

The interplay between macroeconomic sentiment, institutional demand, and technical indicators creates a scenario where Bitcoin’s trajectory hinges on maintaining its current price above $120,000. With major players continuing to accumulate BTC and broader market confidence buoyed by the U.S.-EU trade developments, the cryptocurrency’s path to a new ATH remains contingent on holding critical resistance levels.

Source: [1] [BTC could hit a new ATH if it holds above $120K: check forecast] [https://invezz.com/news/2025/07/28/btc-could-hit-a-new-ath-if-it-holds-above-120k-check-forecast/]