Bitcoin Climbs Back Above $109K as Trump Extends EU Tariff Deadline, Calming Markets
Bitcoin rebounded to $109,000 on Monday after a turbulent week, gaining back some ground following President Donald Trump’s decision to delay a major tariff deadline with the European Union. The move, aimed at allowing more time for trade talks, has eased pressure across global markets, giving both cryptocurrencies and traditional assets a temporary lift.
The flagship digital asset had reached a record high of $111,814 on May 22 before slipping to around $107,500. Despite the volatility, Bitcoin remains up 15% over the past month. Market analysts point to strong activity in Bitcoin derivatives as a signal of renewed confidence. According to data, 24-hour open interest rose 2.59% to $76.66 billion, while trading volume jumped 10.85% to $89.91 billion.
These increases typically suggest traders are bracing for further movement—often upward—as sentiment swings more positive.
The rebound followed President Trump’s announcement on May 25 that he would postpone the June 1 deadline for slapping 50% tariffs on EU imports. Speaking on his social media platform, Truth Social, Trump said European Commission President Ursula von der Leyen requested the delay to continue trade discussions. The new deadline has been set for July 9.
“I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so.” Trump wrote.
The decision marks a softening of tone after markets reacted nervously to Trump’s threat on May 23 to proceed with the tariffs if talks failed. That warning sparked jitters, briefly weighing on investor confidence. But with the new deadline in place, financial markets showed signs of relief.
U.S. equity futures ticked higher following the news. The S&P 500 gained 0.9%, the Dow rose 0.8%, and the Nasdaq-100 was up 1% in early trading. In contrast, gold prices slipped 0.3% to $3,346.59 per ounce, signaling a pullback in demand for safe-haven assets.
The drop in gold, often viewed as a shelter in times of uncertainty, suggests that investors are regaining their appetite for risk. Bitcoin, known for its speculative nature, appears to be benefitting from that shift in sentiment.
Still, the calm may be short-lived. Trump’s unpredictable trade strategy continues to inject uncertainty into global economic forecasts. Investors in both crypto and traditional markets will be closely watching how negotiations evolve as the July 9 deadline approaches.