Yesterday, the prezzo di Bitcoin had opened the day at around $108,000, while today at $109,000.
This very slight rise actually began yesterday, and it is partly due to Donald Trump and partly to Elon Musk.
The announcements of Donald Trump on tariffs
Yesterday, at a certain point in the day, the American president stated that many trade agreements with foreign countries will be closed by the deadline of July 9 (the day after tomorrow).
The Secretary of Commerce, Howard Lutnick, then added that the so-called “reciprocal” tariffs will come into effect on the first of August.
Trump dice che avranno la maggior parte degli accordi entro la scadenza tariffaria del 9 luglio, ma Lutnick dice “entrano in vigore il 1° agosto. Le tariffe entrano in vigore il 1° agosto, ma il Presidente sta fissando le tariffe e gli accordi proprio ora.” @ABC pic.twitter.com/E1MKOdLn7k
— Selina Wang (@selinawangtv) 6 luglio 2025
The fact is that the suspension announced in April by Trump in theory would expire just the day after tomorrow, so again in theory the reciprocal tariffs should have come into effect the day after tomorrow.
Instead, in fact, an additional extension was granted, confirmed by Lutnick’s words, which move the deadline to the first of August.
The markets actually liked this extension, also because by now there is hope not so much that reciprocal tariffs will come into effect, but above all that commercial agreements will be signed, particularly with China and the European Union.
Given that it seems highly unlikely that these two agreements can be announced by the day after tomorrow, since the negotiations appear to be still up in the air, an initial further extension of almost a month has sparked slight enthusiasm in the bull and bear markets.
At this rate, with continuous extensions, sooner or later an agreement should be reached, even if it takes months.
The statements of Elon Musk
To this first news, which arrived yesterday, another one was added that arrived last night.
Elon Musk, in fact, has publicly declared on his official X profile that his new party intends to embrace Bitcoin.
Fiat è senza speranza, quindi sì
— Elon Musk (@elonmusk) 7 luglio 2025
Everything started with his post in which he said that his new American Party would be the solution to the bipolar extremism of the bull system.
A commentator took the opportunity to ask him if the American Party will embrace Bitcoin, and Elon Musk explicitly responded that fiat currencies are hopeless, and therefore the American Party will embrace Bitcoin.
It is not precisely known how much truth there is in these words, and how much is just the usual propaganda, but it should not be forgotten that Musk’s two main companies, Tesla and SpaceX, continue to hold Bitcoin. He himself seems to hold Bitcoin, so it is at least plausible that beyond the inevitable propaganda there might also be some truth.
Analysis and reactions of Bitcoin (BTC) price
And so yesterday at first the prezzo di Bitcoin suddenly rose above $108,800, while in a second moment it jumped above $109,000.
To tell the truth, it then also recorded a slight decline, also because shortly after the reopening of the traditional exchanges after the weekend, the Dollar Index slightly rose, but in the end, it seems that it manages to stay close to $109,000 (at least for now).
Moreover, the weekly closing on Sunday was the highest ever, because never before had an entire week closed on Sunday night with a price of BTC above $109,000.
Note that it has now been consistently above $100,000 for two weeks, and the general trend of these last few weeks seems to be bullish.
On the other hand, the Dollar Index in the same period has fallen from 99 points to less than 97, even though it has now moved back above this last threshold.
The dollar
In the medium term, the trend of Bitcoin’s price tends to be inversely correlated with that of the Dollar Index (DXY).
The current level of the prezzo di BTC, which is only 3% away from reaching new all-time highs, might seem very high, but in reality, when compared to the trend of the Dollar Index, it might even appear slightly low.
Not only during 2025 did DXY plummet from 111 points to less than 97, with the largest semi-annual drop in recent years, but it also reached the lowest levels of the last three and a half years.
Furthermore, if in the long term it has been continuing to oscillate since 2008 within an ascending channel, it seems on the verge of breaking below the lower line of this channel, and thus interrupting the trend that has lasted for seventeen years.
The Dollar Index always tends over the very long term to oscillate around 100 points, but with long trends that last several years in which it either rises quite continuously, or falls more or less in the same way.
Trump wants to reduce the disproportion of the USA’s trade balance by decreasing the enormous amount of imports and favoring exports, and a weak dollar would be by far the quickest and most effective solution to achieve all of this.
