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The Bitcoin price edged up a fraction of a percentage in the past 24 hours to trade at $119,255 as of 3:39 a.m. EST, with trading volume rising 50% to $35.7 billion.
This uptick in the BTC price comes as US President Donald Trump and European Commission President Ursula von der Leyen announced a sweeping trade deal that imposes 15% tariffs on most European goods.
The deal now wards off Trump’s threat of a 30% rate if no deal had been reached by Aug. 1.
President Trump has completed a US/EU Trade Deal.
A flat rate 15% tariff on all goods exported from Europe.
This ends uncertainty and is a big loss for the EU.
The EU has been trumped. pic.twitter.com/itfsbsRFFX
— Dr Russell McGregor (@KillAuDeepState) July 27, 2025
However, Von de Leyen said that the two sides had agreed on zero tariffs on both sides for a range of strategic goods.
Such an agreement could renew investor confidence, which could return traders’ risk appetite, and trickle down to the crypto market. Can the BTC price still soar, having gained over 11% in the last month?
Bitcoin Price Eyes New Highs As Bullish Channel Drives Momentum Toward $130,000
The BTC price is currently on a sustained upward momentum within a rising channel that has held since mid-April.
Bitcoin price action is approaching the upper boundary of the channel, suggesting sustained buying pressure, but also hinting at potential resistance near the $123,000 region, the recent swing high, as GeckoTerminal data shows.
Meanwhile, the 50-day Simple Moving Average (SMA) at $111,082 and the 200-day SMA at $98,541 are both sloping upward, as the price of Bitcoin trades well above both the SMAs, a bullish confirmation.
The Fibonacci retracement levels show strong support around the 0.382 and 0.5 levels at $109,834 and $105,663, respectively.
Moreover, the Relative Strength Index (RSI) is currently at 61.80, indicating bullish momentum without being overbought, leaving room for further upside.
With the price of BTC moving within a rising channel, Bitcoin is likely to challenge its previous high near $123,000.
If it breaks above the upper channel resistance, the next target could be around $130,000, within the upper boundary of the rising channel.
However, if resistance holds, a retracement toward the $112,640 level remains possible, with the $109,834 mark (0.382 Fib level) acting as a cushion against downward pressure.
Meanwhile, investors are piling into a new BTC-themed token called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Token Presale Hits $5.4 Million
After collecting over $1.5 million in the last one week alone, the Bitcoin Hyper presale is gaining traction, pushing its early funding to over $5.4 million.
As the first Bitcoin layer-2 chain, BTC Hyper plans to improve the Bitcoin network by adding more speed and lower fees.
This upgrade could open the door for easier payments, meme coins, and decentralized apps. The team believes 2025 could be the year Bitcoin Hyper makes a major impact.
Bitcoin Hyper is building a full ecosystem. It includes a wallet, explorer, bridge, staking, and meme coin features. This setup gives Bitcoin users more tools in one place.
Bitcoin Hyper will leverage the Solana Virtual Machine (SVM), which is known for its high speed and proven reliability.
The SVM’s parallel processing architecture will enable a theoretical throughput of over 60,000 transactions per second (TPS), significantly outpacing Bitcoin’s base layer and even Web2 payment networks.
Furthermore, the project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
If you buy and stake now, you could unlock a 188% annual percentage yield (APY). However, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper website to buy HYPER tokens for $0.012425 each using crypto or a bank card.
Buy before the next price increase in about 7 hours.
Visit the Bitcoin Hyper website.
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