BlockBeats News, July 23rd, U.S. President Trump announced a historic agreement with Japan, with Japan investing $550 billion and significantly opening up its market. The U.S. will receive 90% of the profits, and the automotive tariff is reported to be reduced to 15%. On the same day, Trump also announced trade agreements with the Philippines and Indonesia, allowing the U.S. to impose a 19% tariff. Coupled with the 50% copper tariff set to take effect on August 1st, the global trade landscape is rapidly changing, traders are accelerating shipments, and market risk aversion is increasing.
Bitunix Analyst Suggestion:Regarding the crypto market, recent news has brought about uncertainty, leading funds to focus on short-term operations. Although BTC has held above the $116,000 support level, it has failed to effectively break through the $120,000 range, showing a clear consolidation pattern. Investors are advised to operate with a range mindset in the short term, with Bitcoin support at $116,300 and resistance at $120,000. It is recommended to reduce positions during oscillations; if it falls below $116,300, be cautious of a pullback risk.
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