Bitcoin Price Faces Range-Bound Trading Amid US Trade Negotiation Uncertainty and Volatile Markets

On July 22, US Treasury Secretary Besent emphasized that the government prioritizes the quality of trade negotiations over the August 1 deadline, indicating flexibility in the timeline. Conversely, Commerce Secretary Lutnick reaffirmed the August 1 cutoff for tariff enforcement, impacting countries such as Brazil and Japan with elevated tariffs. This divergence highlights a lack of unified messaging within the US administration, contributing to market uncertainty. Despite this, US equity indices continued to climb to record levels, though investor sentiment remains cautious amid trade-related risks. The cryptocurrency market exhibited significant volatility in response to these developments. According to Bitunix analysts, ongoing trade negotiation ambiguity is likely to constrain the short-term rally of risk assets. Bitcoin’s technical analysis points to a support level near 116,300 and resistance around 120,000, suggesting a range-bound trading strategy is prudent until clearer trade outcomes emerge, with a focus on short-term positions rather than aggressive buying.