- Bitcoin (BTC) traded above $119,430 Monday, up 1.24%, after a US-EU trade deal was announced.
- The US-EU deal sets a 15% tariff, avoiding a threatened 30% rate, and includes a $600B EU investment pledge.
- Bitcoin’s realized market capitalization crossed the $1 trillion threshold for the first time, per Glassnode.
Bitcoin (BTC) pushed higher in early Asian trading on Monday, trading above $119,430, as bullish momentum continued to build following a series of significant institutional milestones and a breakthrough trade agreement between the United of States and the European Union over the weekend.
A transatlantic truce: US and EU strike a deal
In a major development for global markets, US President Donald Trump and European Commission President Ursula von der Leyen announced a framework trade agreement at a summit in Turnberry, Scotland.
The deal sets a 15% US import tariff on EU goods, a significant de-escalation that averts a previously threatened 30% rate.
The agreement also includes a commitment for $600 billion in EU investment into US energy and defense sectors over the next three years, a move aimed at reducing Europe’s reliance on Russian fuel.
However, existing tariffs on steel and aluminum will remain at 50% for the time being.
This easing of transatlantic trade tensions has provided a positive backdrop for risk assets, including cryptocurrencies.
Bitcoin is up 1.24% in early Asian hours, and the CoinDesk 20 (CD20) Index, a broad measure of the largest digital assets, has risen 2.37% to 4,099.18, extending its recent recovery.
Bitcoin’s institutional bedrock deepens
The positive macro news comes as Bitcoin continues to consolidate its recent gains, holding steady above the $118,000 mark after hitting a new record high of $122,700 last week.
This powerful rally has triggered some predictable selling from long-term holders, while simultaneously drawing in new buyers and fresh capital, creating a dynamic market environment.
A key indicator of the market’s growing maturity and value was highlighted by on-chain analytics firm Glassnode, which reported that Bitcoin’s realized market capitalization had crossed the $1 trillion threshold for the first time.
This metric, which measures the total value of all Bitcoin based on the price at which…