Bitcoin Rebounds Toward $110K, Presaging What Could Be a Volatile July
Recently, the largest crypto traded at its strongest price since June 11, around $109,500, up 3.5% over the past 24 hours.
The action came as Donald Trump announced a trade deal with Vietnam, helping risk assets across the board. The Nasdaq at midday is ahead 0.8%.
Under the deal, the U.S. will impose a 20% tariff on goods from Vietnam and a 40% levy on transshipped goods—products routed through Vietnam on their way to the U.S. U.S. exports, in turn, will face no tariffs when entering the Vietnamese market.
Boosting crypto sentiment specifically could be the debut of the REX-Osprey Solana + Staking ETF (SSK), the first such crypto staking product available in the U.S.
"Volume in $SSK now at $20M, which is really strong, top 1% for a new launch," wrote Bloomberg analyst Eric Balchunas a short while ago. Balchunas noted that SOLZ — a futures-based SOL ETF that opened for business in March — did just $1 million of volume on its first day of trade.
July is shaping up to be a potentially volatile month for bitcoin, driven by Trump administration's policies, according to Vetle Lunde, head of research at K33.
Trump is expected to sign a controversial expansionary budget bill dubbed the "Big Beautiful Bill" by Friday. The bill, which could widen the U.S. deficit by $3.3 trillion, is seen by some as bullish for scarce assets like BTC, Lunde said.
Another key date looming is the July 9 tariff deadline, which could see more aggressive trade posturing from Trump.
Thirdly, July 22 is the final deadline for action on long-awaited crypto executive order, with potential updates on the U.S. Strategic Bitcoin Reserve.
"July is crowded with latent Trump volatility," Lunde said. Still, crypto markets are relatively calm without excessive froth, he noted.
"There are few reasons to expect a massive broad deleveraging of the crypto market, as crypto-leverage remains contained," he said. "This favors maintaining spot exposure and staying patient as we progress into a period well known for its seasonal apathy."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
13 minutes ago
- Washington Post
Denny's and Waffle House remove egg surcharges as prices fall
Denny's and Waffle House have removed surcharges that the two restaurant chains added to their menus when U.S. egg prices spiked earlier in the year. Denny's confirmed Thursday that it eliminated its egg surcharge on May 21. Waffle House said Wednesday on social media that it canceled its surcharge on June 2.
CNET
14 minutes ago
- CNET
Early Prime Day Tablet Deals: Save Up to $500 on iPads, Androids, Kindles and More
The Fourth of July deals will likely start to wind down after this weekend, which is just in time for Amazon's Prime Day deals to start heating up. The online retailer's massive summer sale kicks off on July 8, and it's already giving us a taste of what to expect with tons of incredible early bargains. You can take advantage of discounts on tons of top tech right now, including a massive selection of top-rated tablets. Whether you're looking to grab the latest iPad or want to pick up a budget-friendly Android, there are plenty of offers out there, and we've rounded up some of the very best ones below. And keep checking back because we'll continue updating this page as new bargains drop and other deals expire throughout the sale. Hey, did you know? CNET Deals texts are free, easy and save you money. Early Prime Day tablet deals Apple iPad 10th gen: $299 A nice $50 savings brings the previous-gen iPad just under $300. The 10th generation is no longer the latest in Apple's standard iPad lineup, thanks to the fairly recent addition of the iPad 11th gen but it's still an all-around solid tablet. With a 10.9-inch screen, 64GB of storage and a 10-hour battery life, this iPad is a great pick for folks looking for an Apple tablet for everyday browsing, streaming and reading. Details Save $50 $299 at Walmart Close OnePlus Pad: $380 This Android tablet is less than $400 and is a great alternative to some of the major brands out there. The OnePlus Pad is not the latest on offer by OnePlus but it does have a nice 11.6-inch display, 8GB of RAM and 128GB of storage. It also boasts a sleek and lightweight design at just 552g and 6.54mm thick. Details Save $100 $380 at Amazon Close Apple M4 iPad Pro (13-inch): $1,367 The powerful M4 iPad Pro is a great investment for creatives and this modest $130 discount helps make it a little more affordable if you've been wanting to splurge on this model with a 13-inch Ultra Retina XDR display and 512GB of storage. Details Save $132 $1,367 at Amazon Close Samsung Galaxy Tab S9 Ultra: $700 A $400 discount on the Galaxy Tab S9 Ultra is a massive win for Android fans who love the Galaxy line. This is one of the best deals we've seen on a high-end Android tablet. This model also comes with the S-Pen so you can write and take notes easily. Plus, this tablet is also water- and dust-resistant so you can take it with you on the go. And it comes with Galaxy AI. Details Save $500 $700 at Best Buy Close Microsoft Surface Pro, 13-inch (512GB): $1,000 This high-end Surface Pro tablet has a detachable keyboard, a Snapdragon X Plus processor and 16GB of RAM, making it an incredible option for productivity. Plus, it weighs less than two pounds and boasts an impressive 14-hour battery life, so it's great for working on the go. Details Save $350 $1,000 at Best Buy Close Refurbished Fire Max 11 tablet: $130 The Fire Max 11 is a great budget tablet with a beautiful 11-inch screen, perfect for streaming, reading and chilling out. This model has been refurbished up to Amazon Certified levels so it's trustworthy but might not be for everyone. Details Save $70 $130 at Amazon Close More early Prime Day tablet offers available now Is Amazon Prime Day a good time to buy a tablet? It depends. Your needs and preferences will affect which tablet you should buy and some tablet options won't be as competitively priced as others during Prime Day. Amazon's deals on its own Fire tablets are a great place to start if you're looking for major discounts but you can also score some serious savings on iPads and models from other brands. If you have an older tablet you can trade in, you can potentially save even more through trade-in programs at retailers like Amazon and Best Buy on eligible models. Do you need a membership for Prime Day tablet deals? To access the vast majority of Prime Day deals, you'll need to be a Prime member. If you've always yearned for the benefits of Prime but haven't made the jump, now's a great time to subscribe. Subscribing now could lead to significant savings as tariffs are expected to raise prices on a lot of goods. In fact, 16% of shoppers say they're using Prime Day to start their holiday shopping well ahead of the holiday season, according to a new RetailMeNot survey. (Disclosure: RetailMeNot is owned by the same parent company as CNET, Ziff Davis.) Read more: How to Sign Up for a Prime Membership Are other retailers offering high-quality tablet deals? Yes. In response to Prime Day, many of Amazon's competitors also lowered prices across the board, including on tablets. Best Buy and Walmart have Fourth of July deals that are offering plenty of savings already. In addition, you may also spot deals directly at Dell, HP and Samsung. Will tariffs impact this year's Prime Day deals? Tariffs are top of mind for most Americans and they could impact this year's Prime Day event. Prices on items like electronics could very well increase, with companies like Apple trying to avoid this by moving manufacturing operations elsewhere. The tariffs are currently paused but only until July, right when Prime Day begins. Now Playing: How to Hack Amazon Prime Day: Shopping and Deals Advice 04:03 How does CNET select the best Prime Day offers? Our team of expert shoppers and deal hunters has spent years helping buyers understand which major sales and deals are legitimately good and which are more routine. That includes Black Friday, Prime Day, Memorial Day and countless other shopping events. We've become very good at weeding out scams and superficial deals on all sorts of tech, so you see only the best offers on items, like tablets. At CNET we look for real discounts, quality reviews and remaining sale time when choosing a deal to show you.
Associated Press
15 minutes ago
- Associated Press
Hakeem Jeffries takes his 'sweet time' holding the floor to delay Trump's tax bill
WASHINGTON (AP) — There's no filibuster in the House, but Democratic leader Hakeem Jeffries essentially conducted one anyway. Jeffries held the House floor for more than eight hours Thursday, taking his 'sweet time' with a marathon floor speech that delayed passage of Republicans' massive tax and spending cuts legislation and gave his minority party a lengthy spotlight to excoriate what he called an 'immoral' bill. As Democratic leader, Jeffries can speak for as long as he wants during debate on legislation — hence its nickname on Capitol Hill, the 'magic minute,' that lasts as long as leaders are speaking. He began the speech at 4:53 a.m. EDT, and was on pace to break the record set by then-House Speaker Kevin McCarthy, R-Calif., in 2021, when he was the GOP leader. McCarthy spoke for 8 hours, 32 minutes when he angrily criticized Democrats' 'Build Back Better' legislation, breaking a record set by Rep. Nancy Pelosi, D-Calif., when she spoke about immigration for 8 hours, 7 minutes in 2018. 'I feel an obligation, Mr. Speaker, to stand on this House floor and take my sweet time,' Jeffries said as he opened. The speech pushed a final vote on Republican President Donald Trump's tax bill, initially expected in the early morning, into the daylight hours. The New York Democrat used the time to criticize the bill's health care and food aid cuts, tax breaks for the wealthy and rollbacks to renewable energy programs, among other parts of the bill that Democrats decry. He also killed time by riffing on hip-hop, King George III and his own life story, among other diversions. He called out Republicans who have voiced concerns about the bill, read stories from people concerned about their health care from those GOP lawmakers' districts and praised his own members, some of whom sat behind him and cheered, clapped, laughed and joined hands. 'This reckless Republican budget is an immoral document, and that is why I stand here on the floor of the House of Representatives with my colleagues in the House Democratic caucus to stand up and push back against it with everything we have,' Jeffries said. Jeffries sneaked small bites of food and drank liquids to boost his energy, but did not leave the chamber or his podium. The speech would be over if he did. Democrats were powerless to stop the huge bill, which Republicans are passing by using an obscure budget procedure that bypasses the Senate filibuster. So they were using the powers they do have, mostly to delay. In the Senate, Democratic leader Chuck Schumer of New York forced Senate clerks to read the bill for almost 16 hours over the weekend. Sen. Cory Booker, D-N.J., similarly gained attention in April when he spoke for more than 25 hours on the Senate floor and broke the record for the longest continuous Senate floor speech in the chamber's history. Booker was assisted by fellow Democrats who gave him a break from speaking by asking him questions on the Senate floor, but Jeffries' 'magic minute' did not allow for any interaction with other members. Republicans who were sitting on the floor when Jeffries started trickled out, leaving half the chamber empty. And as they anxiously awaited their vote, some mocked him on social media. 'Anything that drives House Minority Leader Hakeem Jeffries this crazy must be good,' posted South Carolina Sen. Lindsey Graham. 'Pass the One Big Beautiful Bill now.' ___ Associated Press writers Lisa Mascaro and Leah Askrinam contributed to this report.
