Crypto markets remain supported by strong on-chain data and easing geopolitical tensions, as Bitcoin holds steady near $119,000 and Polymarket traders raise the odds of a $125K breakout. Meanwhile, BTC dominance dips below 61%.
Bitcoin (BTC) traded at about $119,430 during early Monday Asian hours, up 1.24%, continuing its bullish run following a series of institutional gains and a new U.S.–EU trade agreement. The CoinDesk 20 (CD20) Index rose 2.37% to 4,099.18, extending its recent rebound.
Over the weekend, U.S. President Donald Trump and European Commission President Ursula von der Leyen announced a framework deal in Turnberry, Scotland, setting U.S. tariffs on EU imports at 15%, avoiding the previously threatened 30% rate. The agreement also commits $600 billion in EU investments to U.S. energy and defense sectors over the next three years, aiming to reduce Europe’s reliance on Russian fuel. Tariffs on steel and aluminum remain at 50% for now.
Bitcoin’s realized market cap — a measure that values coins based on their last movement — crossed the $1 trillion milestone for the first time, according to Glassnode data.
BTC remains comfortably above $118,000 after hitting an all-time high of $122,700 last week. The rally spurred profit-taking from long-term holders but attracted fresh buying interest and capital inflows. Bitcoin dominance slipped to 60.98%, signaling a modest rotation toward altcoins.
Galaxy Digital reported executing a $9 billion bitcoin sale involving 80,000 BTC for a Satoshi-era investor last Friday, one of the largest bitcoin transactions on record. The sale was reportedly part of an estate planning strategy.
The subdued market reaction despite the huge transaction underscores Bitcoin’s illiquidity, as many coins remain locked up by long-term holders. This dynamic suggests the market may be primed for a supply-shock rally capable of absorbing large sales without disruption.
On Polymarket, traders now assign a 24% chance of BTC reaching $125,000 before the end of July, up from 18% earlier in the week, as momentum builds and on-chain signals strengthen.
Market Snapshot
- BTC: Holds above $119K after U.S.–EU trade deal; short positions decline, per CoinGlass.
- ETH: Up 3% to $3,867.76 on strong fundamentals, with 28% of ETH staked, exchange balances at 8-year lows, and growing inflows.
- Gold: Falls for a fourth day near $3,335 amid easing trade tensions ahead of FOMC.
- Nikkei 225: Mixed trade as Asia awaits details of U.S.–China negotiations.
