**BTC \$108,091.03**

recording an all-time weekly closing high nearing \$110,000 on Sunday, defying various challenges throughout the week, including a long-dormant whale wallet movement of \$8 billion in BTC, the resurgence of tariff drama, and thin liquidity due to the long holiday.

On Tuesday, the asset stabilized slightly below \$108,000 after experiencing a decline on Monday night. Other major cryptocurrencies experienced profit-taking. Solana (SOL) fell 2.3% to \$149, while dogecoin (DOGE) led the decline with a loss of 4.1%. Ether (ETH) held around \$2,530, and XRP stabilized around \$2.26.

In the broader market, Asian equities wavered but avoided a major sell-off after President Donald Trump signaled a willingness to continue trade talks and postponed new tariffs at least until August 1.

The MSCI Asia-Pacific index traded flat despite new tariffs facing Korea and Japan. Risk appetite has returned as the yen weakens and the won strengthens, while the euro rises due to reports of a possible European Union agreement.

"The market is back around its all-time high levels," said Augustine Fan, Head of Research at SignalPlus.

"The financial reporting season starts this week, and current sentiment is driven by hopes that CEOs will provide positive guidance, especially after being caught off guard by news of sudden tariffs last quarter," Fan added.

Cryptocurrency assets continue to closely follow stock market movements, with the correlation between BTC and SPX near local highs. Fan noted that unless volatility increases, we are likely to experience a "hot but calm summer," although a breakout could still occur suddenly.

Meanwhile, at least one trader is eyeing a breakout of the all-time high of bitcoin at $112,000 in the coming weeks.

"Bitcoin is well positioned to break its previous high in July, with the potential to rise to $120,000 by the end of the month. Institutional demand and consistent ETF inflows continue to strengthen the bullish momentum," said Ryan Lee, head analyst at Bitget Research, in a message to CoinDesk.

"Ethereum is also strengthening, supported by ongoing whale accumulation and new optimism under the pro-crypto US administration. ETH could test \$3,000 by the end of July, although market volatility remains a factor," added Lee, noting that the anticipated Fed rate cut in September could be an additional catalyst.
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