BTC Faces Key Resistance at 110,348 Amid US Tariff Extension and Market Pressure

On July 8, Bitunix analysts reported that US President Trump extended the reciprocal tariff deadline to August 1, influencing currency markets significantly. The US dollar strengthened against multiple currencies, reaching its highest level in over a week due to ongoing tariff policies. Negotiations have progressed with key partners including the United Kingdom, Vietnam, and China, although comprehensive agreements remain limited. President Trump also cautioned against retaliatory measures from affected nations. In the cryptocurrency market, Bitcoin (BTC) continues to face resistance near the 110,348 level on the daily chart. Analysts highlight a strong demand zone between 106,000 and 107,000, supported by a concentration of long positions, which acts as a critical support area. A decisive break above 110,348 could open the path toward testing 112,800. Traders are advised to avoid chasing short positions at elevated prices and to monitor the liquidity cluster between 106,000 and 107,000 for potential pullback opportunities. A drop below 106,000 may signal a shift toward bearish market sentiment.