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Bitcoin Consolidates Under $120K on Trade Pact Optimism and Record On-Chain Liquidity

Technical indicators point to a potential advance toward $130K supported by large-scale transactions

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Asia morning briefing: trump's e.u. tariff deal holds bitcoin near $119k
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Overview

  • US President Donald Trump and European Commission President Ursula von der Leyen struck a framework trade deal capping US tariffs at 15%, boosting risk appetite and lifting Bitcoin above $119K.
  • Glassnode data shows Bitcoin’s realized market capitalization has surpassed $1 trillion for the first time, reflecting deepening liquidity in the network.
  • Galaxy Digital facilitated the sale of 80,000 BTC worth over $9 billion for a Satoshi-era investor without causing a significant price drop.
  • Metaplanet acquired 780 BTC for roughly $92.5 million, bringing its treasury holdings to more than 17,000 coins in a strategic accumulation drive.
  • On-chain MVRV bands indicate that maintaining support above $110K could pave the way for a rally toward $130K.