Larger Cryptocurrencies rose on Sunday morning when the US Ministry of Finance Scott Bessent hinted at upcoming trade agreements before July 9 Liberation Day Tariff deadline.
Bitcoin, the leading cryptocurrency with market value, achieved over 1%, card peaked $ 109,000. Payments-focused XRP and Solana’s Sol-Token obtained over 2% each, with Meme-token Dogecoin
Rising 3%according to Data Source Coindesk. Ethereums ether, the second largest token, rose 1.5% to $ 2,550.
In an interview with CNN, Bessent declared that the United States is close to ending more trade agreements before the deadline of July 9, when the temporary break in higher rates originally announced on April 2nd expires.
“President Trump will send letters to some of our trading partners who say that if you don’t move things, then on August 1st, you will boomerang back to your April 2nd Teaching level. So I think we will see a lot of offers very quickly,” said Bessent by. Reuters.
Bessent explained that on July 9, the deadline for negotiations remains, as they will not have a higher tariff announced in early April will come into force from August 1st.
“We say it is when it happens. If you want to speed up things you need to have it. If you want to return to the old rate, it’s your choice,” Bessent told CNN, adding that some countries were ‘footsteping’ about coming to offers.
Since joining early this year, President Donald Trump has been focused on making the United States wealthy again by imposing tariffs imported from other countries, a compulsory tactics aimed at reputing trade relations and reducing the US trade deficit.
Trump announced sweeping tariffs on April 2, starting with a 10% base tax on all trading partners and additional amounts in many countries, with some in the area as high as 50%. The so-called Liberation DAY message triggered a sale in financial markets, with US shares getting a significant hit along with a sharp fall in Bitcoin that fell to $ 75,000.
The panic probably caused the Trump administration to announce a 90-day break a week later.
Since then, so -called US exceptionalism has emerged in the financial markets and raised larger US stock indices to detect heights. Both the S&P 500 and Nasdaq have surpassed their global comrades, with the BTC Rallying to trade over $ 100,000.
