Bitcoin Nears All-Time High as Analysts Anticipate Breakout Amid Tariff Deadline and “Crypto Week”
Bitcoin is inching closer to its all-time high, with analysts predicting a potential breakout this week as the U.S. tariff deadline looms and optimism builds around the upcoming “Crypto Week” in Washington, D.C.
Currently trading just 2% below its all-time high, Bitcoin topped $109,500 on Monday, sparking renewed bullish sentiment in the market.
Tariff Deadline Could Unlock Risk Appetite
The July 9 deadline marks the end of a 90-day pause on U.S. reciprocal tariffs. According to UBS Global Wealth Management, a further postponement could be interpreted as a dovish move by the U.S., likely boosting risk assets — including Bitcoin.
“Markets might interpret another delay as a reluctance to enforce tariffs,” said UBS in a note cited by The Wall Street Journal.
Technical Signals Point to Breakout
John Bollinger, creator of the Bollinger Bands indicator, commented on Sunday that Bitcoin appears to be “setting up for an upside breakout.”
Markus Thielen, head of research at 10x Research, said post–July 4 seasonality has historically been bullish for Bitcoin:
“Bitcoin is likely to set a new all-time high this week or next,” Thielen told Cointelegraph.
Volatile Week Expected with Macro Tailwinds
Henrik Andersson, Chief Investment Officer at Apollo Capital, echoed similar views, calling this a “volatile week” ahead of Crypto Week and noting:
“Any downside volatility this week could be a good buying opportunity.”
Bitcoin looks to be setting up for an upside breakout. $BTCUSD More as the week gets going.
— John Bollinger (@bbands) July 6, 2025
He also pointed out renewed enthusiasm from Elon Musk, who recently mentioned Bitcoin on X, hinting at a possible shift in sentiment from the Tesla CEO.
Market Already Rallying Ahead of Deadline
Jeff Mei, COO at BTSE, noted that markets are already rallying, supported by expectations that tariffs may be delayed until August, giving countries more time to negotiate.
“If we see good numbers on Tuesday, it’s likely markets will continue to rally,” Mei added.
In the last 24 hours, the crypto market added more than $50 billion in total capitalization, according to CoinGecko.
Altcoin Season on the Horizon?
As Bitcoin flirts with record highs, traders are also eyeing altcoins for higher returns in the months ahead.
Nick Ruck, director at LVRG Research, suggested:
“Traders may look to altcoins for upside potential as the second half of the year brings higher volatility.”
Eugene Cheung, Chief Commercial Officer at OSL, added:
“Once Bitcoin surpasses its all-time high, we expect a new price discovery phase. Investors may also turn to Ethereum and other major assets to hedge against macro volatility and potential inflation, especially as the Fed signals possible rate cuts later this year.”
With macro conditions aligning and institutional interest rising, the next few days could be pivotal for Bitcoin and the broader crypto market.
