- Bitcoin (BTC) traded above $119,430 on Monday, marking a 1.24% rise following the announcement of a trade agreement between the US and the EU.
- The US-EU agreement sets a 15% tariff, avoiding a previously threatened 30% rate, and includes an EU investment pledge of $600 billion.
- Bitcoin’s realized market capitalization surpassed $1 trillion for the first time, according to Glassnode.
Bitcoin (BTC) climbed higher in early Asian trading on Monday, trading above $119,430 as bullish momentum continued to build after a string of notable institutional milestones and a breakthrough trade agreement between the United States and the European Union over the weekend.
Transatlantic truce: US and EU reach agreement
U.S. President Donald Trump and European Commission President Ursula von der Leyen announced a framework trade deal at a summit in Turnberry, Scotland.
The agreement imposes a 15% U.S. import tariff on goods from the EU, a significant de-escalation that averts the previously threatened 30% rate.
The deal also includes an EU commitment to invest $600 billion in the U.S. energy and defense sectors over the next three years, a move intended to reduce Europe’s dependence on Russian fuels.
Existing tariffs on steel and aluminum, however, will remain at 50% for the time being.
This easing of transatlantic trade tensions provided a positive backdrop for risk assets, including cryptocurrencies.
In early Asian trade, Bitcoin rose 1.24%, while the CoinDesk 20 Index (CD20), a broad gauge of the largest digital assets, climbed 2.37% to 4,099.18, extending its recent recovery.
Institutional foundations of Bitcoin deepen
Positive macro news arrives as Bitcoin consolidates recent gains and holds comfortably above $118,000 after reaching a new all-time high of $122,700 last week.
The strong rally triggered some expected selling from long-term holders while drawing in new buyers and fresh capital, creating a dynamic market environment.
On-chain analytics firm Glassnode highlighted a key signal of the market’s maturing depth and value, reporting that Bitcoin’s realized market capitalization surpassed the $1 trillion mark for the first time.
This metric, which measures the aggregate value of all Bitcoins based on the price at which each coin last moved on-chain, is regarded as a more fundamentally grounded valuation than simple market capitalization.
Additional evidence of large-scale institutional activity emerged on Friday when Galaxy Digital disclosed it had executed a stunning $9 billion BTC transaction on behalf of an investor from the Satoshi era.
The sale, which involved 80,000 BTC, was reportedly part of an estate planning strategy and represents one of the largest single transfers of bitcoin in history.
The market’s ability to absorb this massive sale without a pronounced price drop is seen by many as proof that a substantial portion of bitcoin supply is illiquid and held tightly by long-term “HODLers.”
It appears the market, even on the verge of potential supply shocks, can readily absorb another $9 billion offered for sale.
As Bitcoin’s price rose, its dominance—measuring its share of total crypto market capitalization—slightly fell to 60.98%. That suggests mild capital rotation into altcoins as traders’ appetite for risk increases.
Bullish sentiment is also reflected in prediction markets. Bettors on Polymarket now assign Bitcoin a 24% chance of reaching $125,000 by the end of July, up from 18% at the start of the week, as traders weigh the impact of positive macro tailwinds and growing on-chain conviction.
Wider market overview
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ETH: Ether trades around $3,867.76, up roughly 3%, supported by strong on-chain fundamentals.
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About 28% of the total ETH supply is now staked, exchange balances are at eight-year lows—indicating a preference to hold rather than sell—and inflows of new buyers are rising.
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Gold: Gold has moved lower for the fourth consecutive day in a classic “risk-on” shift and traded near $3,335 in early Asian hours.
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Despite an impressive year-on-year gain of 28%, recent progress in trade deals between the US, the EU and China has reduced near-term demand for safe-haven assets ahead of this week’s Federal Open Market Committee (FOMC) meeting.
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Nikkei 225: Asia-Pacific markets were mixed on Monday as investors awaited further details on ongoing trade talks between the US and China.