Over the weekend, the general crypto market saw a rather steady growth after plunging last Friday. Amidst the dip, Bitcoin (BTC) and altcoins faced volatility. Bitcoin, for instance, dropped from $111,000 level to $107,000 while Ethereum (ETH) and other altcoins dipped.
But with the U.S president Donald Trump announcing a delay of the 50% tariffs on European Union (EU) goods, the crypto market has pumped. The tariffs on EU were to go into effect on June 1 but Trump delayed them to July 9, 2025. Previously, the tariff tensions between the U.S and other global economies led to a crypto market crash.
Crypto Market Shows Resilience
Despite falling last Friday, the crypto market has shown immense resilience. Over the last 24 hours, the total crypto market cap (TOTAL) has increased by $65.28 billion, as per the data by TradingView. This marks a 1.95% surge on the day, pushing it to $3.41 trillion. This growth highlights increased investor confidence as trade tensions between the U.S and EU cool-off.
If the momentum continues, the TOTAL could surge towards the resistance at $3.5 trillion. An upward move of this manner would signify strong buying in the crypto market. In such a case, flipping the $3.5 trillion level into support would push the total crypto market cap towards $3.64 trillion. This would confirm the continuation of the bullish trend.
However, if the TOTAL fails to clear the resistance, it could dip towards the support at $3.31 trillion level. Failure to hold this support would result in a deeper dive towards the next resistance at $3.18 trillion. Such a case would signify a trend reversal to a bearish trend.
Bitcoin Reclaims $110,000 — Is a Rally to $120,000 Incoming?
As the crypto market recovers, Bitcoin has also continued to show resilience. Despite having a rather turbulent weekend, BTC’s daily chart on TradingView shows that Bitcoin has surged to $110,074. This price level comes after BTC dropped to $107,000 level on Sunday.
The weekend drop in the price of BTC even saw top traders flip bearish. But, Trump’s announcement of the European Union tariff delay boosted market sentiment. If buyers back the current rally, Bitcoin could reclaim its new all-time high at $111,900 level.
There’s also potential for BTC to surge to a new all-time high if bullish momentum continues. Bitcoin is facing resistance at the current ATH. A surge past this level could see Bitcoin climb to the $120,000 level. Such a pump would mean a 9.04% surge from the current price.
Ethereum Remains Steady as Bulls Eye a Retest of $2,700
Ethereum (the top altcoin by market cap) has also shown a rather steady recovery. The coin dropped to $2,500 level on Friday, but the weekend saw steady growth. Ether’s daily chart on TradingView shows that the coin is currently trading at $2,567. If the momentum continues, ETH could retest higher levels.
The coin is currently facing resistance at $2,700 level. But ETH has retested this level twice, failing to hold it. However, bulls have not lost hope and Ethereum could be headed to a third retest of this level. Turning this level into support will be crucial for ETH to surge towards $3,000.
However, failure to clear the resistance could see Ethereum dip towards the short-term support at $2,452. In case of a deeper drop Ethereum could plunge to stronger support at $2,209 level. This would shift the power to bears with a potential plunge to $2,000 in case that happens.
