The crypto market posted modest good points 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 following decade, handed the Senate in a 50–50 vote, with Vice President JD Vance casting the tie-breaking vote.
On the similar 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 is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam,” Trump wrote on Reality Social earlier right this moment.
Mike Cahill, co-founder and CEO of Douro Labs, instructed The Defiant that Bitcoin’s transfer previous $109,000 alerts a broader shift in institutional sentiment, as heavy macro catalysts “are drawing fresh capital back into crypto as a portfolio diversifier.”
“That said, it’s important that we see past price movement headlines and understand the bigger picture,” Cahill added. “Right now, we see the return of real money seeking macro‑hedge exposure unaffected by traditional trading hours.”
Meanwhile, Kyle Chassé, CEO of MV Global & Founder of PAID, said in a statement shared with The Defiant that “Washington just wrote itself a record‑breaking $5 trillion IOU and every new trillion is free advertising for Bitcoin.”
“By blasting the debt ceiling that high, the ‘Big Beautiful Bill’ is set to unleash a fresh wave of spending that will swell U.S. and global M2 money supply, a metric that has tracked Bitcoin’s long‑term price almost point‑for‑point,” Chassé stated.
He predicts Bitcoin will break via $225,000 by the tip of the 12 months.
