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Bitcoin price today: holds near $109K amid tariff fallout concerns
Bitcoin rose slightly on Wednesday, continuing a cautious movement as investors stayed on the sidelines amid new U.S. tariff announcements and looked ahead to the upcoming “Crypto Week” in mid-July for potential regulatory clarity.
The world’s largest cryptocurrency rose 0.4% to $108,720.20 as of 09:25.
The token has remained mostly flat since last week, as traders refrained from significant moves amid ongoing uncertainty surrounding U.S. trade policies.
Investors await further tariff action from Trump
President Donald Trump said on Tuesday he would impose a 50% tariff on imported copper and would soon unveil long-promised tariffs on semiconductors and pharmaceutical goods.
A day earlier, he began sending tariff letters to 14 countries, notifying them that sharply higher tariffs would take effect on August 1.
The letters outlined a 25% duty on all goods from Japan and South Korea, while some countries could face tariffs of up to 40%.
Late Tuesday evening, Trump posted on social media:
“Tomorrow morning, we will announce at least 7 trade-related countries, with more countries to be named throughout the day.”
He provided no further details, while investors remained cautious in anticipation of a fresh wave of tariffs.
The new duties sparked fears of a global economic slowdown, prompting investors to pull back from risk-heavy assets like cryptocurrencies.
Looking ahead to ‘Crypto Week’
Investors are now focused on “Crypto Week,” beginning July 14, during which U.S. lawmakers in Washington are expected to advance at least three major bills aimed at regulating digital assets.
Trump Media files for another crypto ETF
Trump Media & Technology Group Corp (NASDAQ: DJT) filed with the U.S. Securities and Exchange Commission (SEC) on Tuesday seeking approval for a new Crypto Blue Chip ETF later this year.
The proposed fund would contain a mix of leading digital assets — including Bitcoin, Ethereum, Solana, and Ripple — giving mainstream investors access to crypto without directly holding tokens.
Approval would mark a notable expansion of Trump-affiliated ventures into the crypto investment space. Last month, Trump Media submitted applications for two other ETFs.
Crypto prices today: most altcoins climb, Polygon jumps 7%
Most altcoins gained on Wednesday, tracking the moderate rise in Bitcoin.
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Ethereum: +2.6% → $2,626.69
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XRP: +3.2% → $2.337
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Solana: +2.4%
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Cardano: +3.5%
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Polygon: +7.2%
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Dogecoin: +2.4%
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$TRUMP: +1.6%
See also: "Ethereum price analysis: Harmonic pattern signals run to $3,200"
