The tariff agreement is advancing rapidly, US stocks hit a new high, and Bitcoin returns to 108K.

As trade negotiations accelerated ahead of the July 9 deadline and the Senate continued discussions on the large and beautiful bill, the S&P 500 Index closed at a historic high on Friday (6/27), with the Nasdaq Index also reaching a historic high. Crypto Assets surged, with Bitcoin returning to 108K and Ether standing at 2,500 US dollars.

Tariff agreement accelerates progress

In April this year, Trump announced a three-month suspension of tariffs on dozens of trading partner countries, a move that stimulated the Asian markets most impacted by the tariffs, but with the deadline of July 9 approaching. Treasury Secretary Mnuchin hinted that some agreements might be extended.

Informed sources say that the Indian trade team has extended its stay in Washington to resolve differences, with both sides hoping to reach an agreement before the July 9 deadline. European Commission President Ursula von der Leyen expressed confidence to EU leaders during a closed-door meeting that an agreement would be reached before the deadline. In addition, China has also confirmed the details of the trade framework agreement reached with Washington.

The voting for the Big and Beautiful Act continues until Monday.

Negotiations surrounding President Trump’s large and beautiful tax reform bill are still ongoing, with Republicans working hard to persuade the opposition to support the bill, and voting is expected to continue until Monday. This measure is estimated to increase the U.S. deficit by nearly $3.3 trillion over the next decade.

Consumer confidence rebounded, and inflation was slightly higher than expected.

In terms of the economy, consumer confidence has risen significantly to a four-month high, and inflation expectations have improved markedly. Data also shows that although the core personal consumption expenditures price index rose slightly above expectations, its increase is consistent with limited price pressures, which will enable the Federal Reserve to initiate interest rate cuts later this year.

Economic data released on Friday showed that inflation was stronger than expected, hindering the rise of U.S. government bonds. The money market continues to predict that the Federal Reserve will cut interest rates at least twice before the end of the year, and if the employment report released on Thursday is weak, bets on a third rate cut by the Fed may strengthen.

Bitcoin returns to 108K, Ether stands at 2,500 USD

Crypto Assets are experiencing a widespread pump, Bitcoin returns to 108K, and Ether stands above 2,500 USD.

Ripple abandons its cross-appeal against the SEC, accepting a $125 million fine and a permanent injunction remains in effect. Ripple Labs CEO Brad Garlinghouse announced on social media that Ripple is putting an end to this and will focus on what matters most, entering a new chapter. XRP’s legal status as a non-security remains unchanged, and XRP has seen a price pump of over 10% in the last 7 days.

Solana has returned to $150 due to the potential launch of a spot staking ETF, with a 7-day pump of up to 16%.

(Solana ETF is about to be listed, and the staking feature has been approved. Will ETH follow suit? )

Source: CoinGecko

This article discusses the acceleration of the tariff agreement, the US stock market reaching new highs, and Bitcoin returning to 108K, first appearing in Chain News ABMedia.