The crypto market posted modest beneficial properties Wednesday, rebounding after two days of volatility. The uptick adopted two main developments: the Senate’s passage of President Donald Trump’s “One Big Beautiful Bill” (OBBA) and the announcement of a brand new commerce cope with Vietnam.
Bitcoin (BTC) is up 3.2% over the previous 24 hours and is at the moment buying and selling at round $109,400, whereas Ethereum (ETH) shot up almost 6% to $2,560. Solana (SOL) climbed by 3.6% to $153, and XRP rose 3.2% to $2.26.
Complete crypto market capitalization rose 1.3% on the day to $3.5 trillion, whereas leveraged liquidations totaled $343 million, in response to CoinGlass. BTC led the wipeouts with almost $121 million, adopted by ETH at $93 million and altcoins at $31 million.
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $342 million in outflows on July 1, breaking a 15-day streak of inflows. In the meantime, spot ETH ETFs noticed almost $41 million in inflows, in response to SoSoValue information.
The market response comes as OBBA, a controversial authorities spending invoice projected so as to add $3 trillion to the federal deficit over the subsequent decade, handed the Senate in a 50–50 vote, with Vice President JD Vance casting the tie-breaking vote.
On the identical time, President Trump introduced that the U.S. had struck a brand new commerce settlement with Vietnam. The deal features a 20% tariff on Vietnamese items and a 40% “transshipping” tariff. It comes simply days earlier than the expiration of his “reciprocal” tariff program.
“It’s my Nice Honor to announce that I’ve simply made a Commerce Cope with the Socialist Republic of Vietnam after talking with To Lam, the Extremely Revered Common Secretary of the Communist Celebration of Vietnam,” Trump wrote on Fact Social earlier right this moment.
Mike Cahill, co-founder and CEO of Douro Labs, advised The Defiant that Bitcoin’s transfer previous $109,000 alerts a broader shift in institutional sentiment, as heavy macro catalysts “are drawing contemporary capital again into crypto as a portfolio diversifier.”
“That mentioned, it is vital that we see previous worth motion headlines and perceive the larger image,” Cahill added. “Proper now, we see the return of actual cash looking for macro‑hedge publicity unaffected by conventional buying and selling hours.”
In the meantime, Kyle Chassé, CEO of MV World & Founding father of PAID, mentioned in a press release shared with The Defiant that “Washington simply wrote itself a report‑breaking $5 trillion IOU and each new trillion is free promoting for Bitcoin.”
“By blasting the debt ceiling that prime, the ‘Large Beautiful Invoice’ is ready to unleash a contemporary wave of spending that may swell U.S. and world M2 cash provide, a metric that has tracked Bitcoin’s lengthy‑time period worth nearly level‑for‑level,” Chassé mentioned.
He predicts Bitcoin will break by $225,000 by the tip of the 12 months.
