Chiara Bianchi
Bitcoin (BTC) surged past $109,400 during early trading hours in Asia on Monday, reaching its highest price point since last Friday. This sharp upward move coincided with U.S. President Donald Trump’s surprise announcement delaying a planned tariff on European Union imports.
At 6 PM EST on Sunday, Trump revealed via Truth Social that the 50% tariff on EU goods, originally set to take effect on June 1, will now be postponed until July 9, 2025.
“I spoke today with Ursula von der Leyen… she requested an extension. I agreed. Talks will start quickly,” Trump wrote.
The delay follows a phone conversation between Trump and European Commission President Ursula von der Leyen, who later echoed the positive tone on X (formerly Twitter), calling it a “good call” and confirming that Europe is prepared to negotiate swiftly.
Just two days earlier, Trump had unsettled markets with aggressive tariff threats. That sudden escalation sparked concerns of a renewed transatlantic trade war, triggering volatility across both traditional markets and crypto assets.
Now, with a six-week negotiation window, tensions appear to be easing — and Bitcoin is benefitting from the reduced macro uncertainty.
BTC Price Climbs as Investors Bet on Risk Assets Again
Following Trump’s softened stance, Bitcoin’s price climbed 1.5%, reaching $109,400, according to CoinGecko. Though it has yet to decisively breach the $110,000 resistance, derivatives data suggests that traders are preparing for a major breakout.
Derivatives Data Signals Rising Bullish Sentiment
Insights from Coinglass highlight a meaningful shift in futures market activity. After Open Interest (OI) stalled below $75 billion due to Friday’s tariff shock, Trump’s announcement triggered a spike in leverage demand.
The BTC funding rate — a key metric reflecting trader sentiment — rose sharply to 0.00076% on Monday, up from 0.0025% at the Sunday open. This indicates that long traders are increasingly confident, paying a premium to maintain bullish positions in perpetual futures contracts.
Historically, rising funding rates often precede significant price rallies, especially when driven by major geopolitical or economic catalysts. If momentum continues, Bitcoin could soon test — and potentially surpass — the psychological $110,000 barrier.
