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Crypto Market: Bitcoin Hits Records, Dogecoin Soars, and Political Drama Surrounds Elon Musk

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by Giorgi Kostiuk

6 hours ago

This week, the crypto market shows significant growth, aided by news of tariff delays and political happenings.

Bitcoin Rises as Tariff Delay Eases Pressure

Bitcoin's price surge was driven by clarity regarding tariffs, which will now take effect on August 1 instead of July 9. This provides global trading partners more time for negotiations and reduces fears of economic disruptions.

Dogecoin Leads Large-Cap Gainers

Simultaneously, Dogecoin (DOGE) surged over 6% within 24 hours, making it the top performer among major cryptocurrencies. Analysts link this rise to renewed interest in meme coins and the buzz surrounding Elon Musk.

Elon Musk's America Party Endorses Bitcoin

Elon Musk confirmed the endorsement of Bitcoin by his new political party, the America Party, stating on X that 'Fiat is hopeless, so yes'. This statement went viral, adding political intrigue to the already active crypto market.

Given the upcoming inflation data and rising geopolitical tensions, the crypto market may continue to experience volatility. However, it is crucial to monitor the latest indicators.

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