Asia Morning Highlights: Bitcoin Holds Firm Near $119K Following Trump’s EU Tariff Agreement

Bitcoin holds firm near $119,000 amid strong on-chain metrics and easing geopolitical tensions, while traders on Polymarket increase odds of a $125K breakout. BTC dominance dips below 61%, signaling modest altcoin rotation.

Bitcoin (BTC) traded around $119,430 in early Asian trading Monday, gaining 1.24% as bullish momentum builds following institutional milestones and a landmark U.S.–EU trade agreement. The CoinDesk 20 (CD20) Index rose 2.37% to 4,099.18, continuing its recent recovery.

Over the weekend, U.S. President Donald Trump and European Commission President Ursula von der Leyen struck a trade framework in Turnberry, Scotland. The deal sets U.S. tariffs on EU imports at 15%, avoiding the previously threatened 30% rate, and includes $600 billion in EU investments in U.S. energy and defense over the next three years. The pact aims to reduce Europe’s dependence on Russian fuel. Meanwhile, tariffs on steel and aluminum remain at 50%.

Bitcoin’s realized market capitalization—a valuation based on the last time each coin moved—surpassed $1 trillion for the first time, according to Glassnode.

After hitting a record $122,700 last week, BTC has steadied above $118,000. The recent rally prompted some profit-taking among long-term holders, while attracting new buyers and capital inflows. Bitcoin dominance slipped to 60.98%, hinting at a rotation into altcoins.

Galaxy Digital announced it executed a $9 billion bitcoin sale involving 80,000 BTC from a Satoshi-era investor last Friday. The transaction, one of the largest in crypto history, was reportedly part of an estate planning strategy.

The muted price response despite the massive sale highlights Bitcoin’s illiquidity, with many coins held long-term. This suggests the market is potentially positioned for a supply-shock rally that can absorb large sales without disruption.

On Polymarket, traders now assign a 24% chance that BTC will reach $125,000 by month-end, up from 18% earlier in the week, reflecting growing optimism.

Market Overview:

• BTC: Holding above $119K as the U.S.–EU trade deal eases tensions; short positions decline, per CoinGlass data.
• ETH: Gains 3% to $3,867.76 on strong fundamentals, with 28% of ETH staked and exchange reserves at eight-year lows.
• Gold: Drops for a fourth consecutive day, trading near $3,335 amid easing trade concerns before the FOMC meeting.
• Nikkei 225: Mixed trading as investors await further updates on U.S.–China trade talks.