Bitcoin Rebound: $110K in Sight

Bitcoin (BTC) is making a strong comeback, pushing towards the $110,000 mark after a brief dip earlier in the week. This surge coincides with positive developments on both the macroeconomic and crypto-specific fronts.

Trade Deal Boosts Risk Assets

Donald Trump's announcement of a trade agreement with Vietnam has lifted risk assets across the board, with the Nasdaq also showing positive gains. The agreement outlines tariffs on goods from Vietnam entering the U.S., while U.S. exports will face no tariffs in the Vietnamese market.

Solana ETF Fuels Crypto Sentiment

Adding to the positive momentum is the launch of the REX-Osprey Solana + Staking ETF (SSK). This is the first crypto staking product of its kind available in the U.S., and it's already seeing significant volume. Bloomberg analyst Eric Balchunas noted the impressive $20 million trading volume on its first day, surpassing the performance of a previous Solana futures ETF.

July: A Month of Potential Volatility?

While the current outlook is optimistic, analysts predict a potentially volatile July for Bitcoin. Several key events are on the horizon, including:

• "Big Beautiful Bill" Signature: Trump is expected to sign an expansionary budget bill by Friday, potentially widening the U.S. deficit. Some see this as bullish for scarce assets like Bitcoin.
• Tariff Deadline (July 9): Further trade-related announcements could lead to market fluctuations.
• Crypto Executive Order Deadline (July 22): Updates on the U.S. Strategic Bitcoin Reserve are anticipated.

Despite these potential triggers for volatility, analysts note that crypto markets are currently calm, with limited leverage. This suggests a lower risk of a major market deleveraging.

Key Takeaways:

• Bitcoin is rebounding, driven by positive trade news and a new Solana staking ETF.
• July could be volatile due to upcoming deadlines and potential policy changes.
• Limited leverage in the crypto market suggests a lower risk of significant corrections.