Bitunix analysts report that the US Secretary of Commerce announced the potential implementation of a copper tariff policy starting August 1st, with rates possibly reaching 50%. This move aims to encourage manufacturing reshoring amid rising global trade tensions, further intensified by the EU’s recent market liberalization proposals. Concurrently, criticism from the Trump administration’s chief advisor towards Federal Reserve Chairman Powell highlights growing concerns over monetary policy, emphasizing the risks if interest rates remain unchanged past July 29th, thereby increasing market volatility.
From a technical perspective, Bitcoin (BTC) faces significant resistance near $110,348, while liquidity analysis reveals crucial support around $107,000. Failure to maintain this support level could prompt a decline towards the $102,560 demand zone, signaling increased downside risk. Market participants should closely monitor these thresholds to adjust strategies accordingly.
Given the prevailing uncertainties in both trade and monetary policies, Bitunix recommends a cautious approach. Maintaining BTC positions within the $106,000–$107,000 support range may present opportunities to test resistance levels again. However, a breach below $106,000 warrants vigilance for potential further declines. Proper risk management and disciplined trading remain essential to navigate the current volatile environment.