Bitcoin continued its upward momentum on Monday, buoyed by rising global risk appetite, progress on U.S. trade deals, and growing institutional adoption. The world’s largest cryptocurrency rose 1% to $108,358.7 by 01:10 ET (05:10 GMT), edging closer to breaking out of a tight June range.
Trade Diplomacy Fuels Risk-On Mood
Optimism surged after Canada withdrew a proposed digital service tax on U.S. firms and reopened trade negotiations with Washington. Ottawa is now targeting a July 21 deadline for a new deal. Simultaneously, Japan renewed efforts to finalize a bilateral U.S. trade pact, and a new U.S.-UK trade agreement took effect Monday.
Markets are now keenly watching whether the U.S. will secure further trade agreements before the July 9 deadline, when President Donald Trump’s new tariffs are set to kick in.
Bitcoin On Track for a Strong June Close
Bitcoin is up 3.6% for June, riding a tailwind of:
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Improved macro sentiment
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Easing geopolitical tensions
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Ongoing regulatory progress in Washington
A major driver: progress on a U.S. stablecoin bill, viewed by markets as a signal of the Trump administration’s pro-crypto stance. Legislative movement has also increased institutional confidence, especially following signals from Fannie Mae and Freddie Mac about potentially accepting crypto collateral for home loans.
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Final Thoughts
With risk sentiment improving, rate cut expectations rising, and policy visibility increasing, Bitcoin may be well-positioned to extend its rally into July. However, macro and political uncertainties—especially around tariff implementation deadlines—remain key risks to monitor.
