XRP News Today: Bitcoin Surges 1.24% to $108,406 on Institutional Inflows and Trade Deal Hopes

Bitcoin's price has been fluctuating around the $109,000 mark, with traders exhibiting a lack of sustained momentum to push the cryptocurrency to new highs. The crypto market edged higher with Bitcoin near $109,000, supported by strong ETF inflows and institutional demand. Bitcoin (BTC), the world's oldest and most valued crypto, dipped below the $109,000 mark over the weekend. However, the cryptocurrency market staged a notable recovery over the weekend, fueled by optimistic comments from U.S. Treasury Secretary Scott Bessent regarding potential trade deals ahead of a critical July deadline. Bitcoin (BTC) led the charge, surging past the $108,000 mark and briefly touching a 24-hour high of $109,656.72. As of the latest trading sessions, BTC was hovering around $108,017, posting a modest daily gain but demonstrating resilience after a period of consolidation. The positive sentiment rippled across the altcoin market, with Ethereum (ETH) climbing 1.5% to trade near $2,533 after reaching a daily high of $2,603.59. Other major tokens saw even more significant gains, with the payments-focused token XRP rising over 2% to $2.26, and the popular meme coin Dogecoin (DOGE) jumping by 3%.

The primary catalyst for the market's upward momentum was an interview with Treasury Secretary Scott Bessent. According to a report covering the interview, Bessent indicated that the U.S. is nearing the finalization of several key trade agreements. This news comes ahead of the July 9 deadline, when a temporary pause on higher tariffs, first announced on April 2, is set to expire. Bessent warned that countries perceived as 'foot-dragging' could see tariffs revert to higher levels by August 1 if deals are not reached. This development has been interpreted by traders as a positive sign, reducing the macroeconomic uncertainty that has recently weighed on risk assets, including cryptocurrencies. The initial "Liberation Day" tariff announcement in April had previously sent shockwaves through financial markets, causing BTC to plunge to $75,000, highlighting the market's sensitivity to such geopolitical events. This weekend's optimism stands in stark contrast to the muted price action seen late last week. On Friday, the market largely shrugged off renewed tariff threats from President Trump, this time directed at Canada over a proposed Digital Services Tax. Despite the announcement of a seven-day period to determine new tariffs, Bitcoin remained relatively stable, trading in a tight range with a 24-hour low of $107,570. The broader crypto market also showed little concern. This complacency, as noted by analysts in a research report, stemmed from a belief that the potential economic risks were not yet reflected in hard data and that new tariffs might not be as inflationary as initially feared.

Bitcoin (BTC-USD) surged past $109,000 after explosive institutional inflows flooded spot ETFs with over $1 billion in July, led by BlackRock and Fidelity. Bitcoin receded 1.24% to $108,406 at press time after failing to break past the $109,000 resistance. A closer look at Binance's BTC/USDT. Bitcoin surged past $109,000, fueled by institutional inflows and positive market sentiment, while Ethereum climbed to $2,573. Altcoins like Dogecoin and Solana. Over the past few days, Bitcoin showed strong momentum and managed to break above a key resistance level around $109,000. Bitcoin has reclaimed ground above US$109,000, buoyed by yet another large-scale buy from MicroStrategy.

Bitcoin's price has been fluctuating around the $109,000 mark, with traders exhibiting a lack of sustained momentum to push the cryptocurrency to new highs. The crypto market edged higher with Bitcoin near $109,000, supported by strong ETF inflows and institutional demand. Bitcoin (BTC), the world's oldest and most valued crypto, dipped below the $109,000 mark over the weekend. However, the cryptocurrency market staged a notable recovery over the weekend, fueled by optimistic comments from U.S. Treasury Secretary Scott Bessent regarding potential trade deals ahead of a critical July deadline. Bitcoin (BTC) led the charge, surging past the $108,000 mark and briefly touching a 24-hour high of $109,656.72. As of the latest trading sessions, BTC was hovering around $108,017, posting a modest daily gain but demonstrating resilience after a period of consolidation. The positive sentiment rippled across the altcoin market, with Ethereum (ETH) climbing 1.5% to trade near $2,533 after reaching a daily high of $2,603.59. Other major tokens saw even more significant gains, with the payments-focused token XRP rising over 2% to $2.26, and the popular meme coin Dogecoin (DOGE) jumping by 3%.

Bitcoin's price has been fluctuating around the $109,000 mark, with traders exhibiting a lack of sustained momentum to push the cryptocurrency to new highs. The crypto market edged higher with Bitcoin near $109,000, supported by strong ETF inflows and institutional demand. Bitcoin (BTC), the world's oldest and most valued crypto, dipped below the $109,000 mark over the weekend. However, the cryptocurrency market staged a notable recovery over the weekend, fueled by optimistic comments from U.S. Treasury Secretary Scott Bessent regarding potential trade deals ahead of a critical July deadline. Bitcoin (BTC) led the charge, surging past the $108,000 mark and briefly touching a 24-hour high of $109,656.72. As of the latest trading sessions, BTC was hovering around $108,017, posting a modest daily gain but demonstrating resilience after a period of consolidation. The positive sentiment rippled across the altcoin market, with Ethereum (ETH) climbing 1.5% to trade near $2,533 after reaching a daily high of $2,603.59. Other major tokens saw even more significant gains, with the payments-focused token XRP rising over 2% to $2.26, and the popular meme coin Dogecoin (DOGE) jumping by 3%.