Bitcoin is expected to potentially set a new record this week. Focus is primarily on the expiration of trade tariffs in the US and the upcoming 'Crypto Week'.
New Wave of Interest in Bitcoin
According to Markus Thielen, head of research at 10x Research, 'Bitcoin is likely to set a new all-time high this week or next.' He noted that post-July 4th seasonality 'tends to be bullish, and markets have largely shrugged off tariff-related risks.'
Upcoming Market Events
July 9 marks the end of a 90-day pause on US reciprocal tariffs. UBS Global Wealth Management analysts suggested that 'if the US postpones the tariffs again, markets might interpret this as a reluctance to implement them, supporting risk appetite.' John Bollinger also warned that Bitcoin looks set for 'an upside breakout.'
Opportunities for Altcoins
Nick Ruck, director at LVRG Research, mentioned that traders may 'look to altcoins for upside potential as the second half of this year is anticipated for higher volatility and surges in digital asset prices.' Eugene Cheung, chief commercial officer at digital assets platform OSL, expressed optimism that more investors will seek Bitcoin and Ethereum to evade macro volatility and potential inflation.
Thus, Bitcoin is anticipated to show substantial growth this week amid significant economic events and increasing interest in digital assets.
