Okay, here's a revised version of the article, aiming for better flow, clarity, and neutrality. I've retained the placeholders and removed anything resembling ads or promotional material.
The crypto market experienced a dynamic start to the week. A combination of factors, including easing trade tensions, political developments, and growing optimism regarding inflation, spurred a crypto rally. This surge pushed Bitcoin close to $110,000, while Dogecoin saw a 6% increase, outperforming several leading tokens. A notable event was Elon Musk's new political party, the America Party, officially endorsing Bitcoin, which drew a public response from Donald Trump.
Bitcoin Rises as Tariff Delay Eases Pressure From Global Markets
Bitcoin's recent gains were not solely speculative. A key driver was the clarification surrounding tariffs, now scheduled to take effect on August 1 instead of July 9. This extension allows global trade partners additional time for negotiation, potentially mitigating concerns about economic disruption.
At the time of this publication, Bitcoin was trading at $108,851, according to CoinMarketcap, reflecting a 0.56% increase in 24 hours. The crypto rally was further supported by expectations that upcoming U.S. CPI data will indicate a moderating inflation trend, potentially leading to earlier interest rate cuts by the Federal Reserve.
Markets are responding positively to both the increased macro flexibility afforded by the tariff timeline and renewed political interest in digital assets. This confluence of factors is contributing to the current rally.
Dogecoin Leads Large-Cap Gainers With 6% Gain
While Bitcoin captured the primary attention, Dogecoin (DOGE) emerged as a top performer among large-cap cryptocurrencies, rising over 6% in 24 hours. This performance surpassed that of other major cryptocurrencies such as Solana (+3%), XRP (+2.7%), and ADA (+2.3%).
Analysts attribute Dogecoin's rise to a combination of factors: renewed speculative interest in meme coins and heightened social media activity surrounding Elon Musk's recent political actions, particularly his endorsement of Bitcoin. Although DOGE was not explicitly mentioned in Musk's tweets, his involvement often draws attention to the cryptocurrency. The recent rally around DOGE illustrates how sentiment can, at least in the short term, outweigh fundamental factors.
Elon Musk's "America Party" Endorses Bitcoin: "Fiat Is Hopeless"
Adding to the market's activity, Elon Musk confirmed via X (formerly Twitter) that his new America Party will support Bitcoin. In response to a user's question about Bitcoin's role within the party, he stated:
“Fiat is hopeless, so yes.”

Elon Musk Crypto Rally
This tweet gained considerable traction, becoming one of the most discussed crypto-related posts of the day, and also intensified the public exchange between Musk and Trump.
Reportedly, over the weekend, Trump criticized Musk for his recent comments on the "Big Beautiful Bill" signed by Trump the previous week. On Truth Social, Trump described Musk as a "train wreck" who has "gone off the rails" and ridiculed his plans to establish a third political party. This political dynamic further fueled the crypto rally, providing traders with an additional incentive to re-engage with the market.

Metaplanet’s Massive Bitcoin Purchase Adds to the Rally
Sentiment was further bolstered by Metaplanet, a Japan-based tech company, which announced the purchase of an additional 2,205 Bitcoin, valued at $240.8 million. This acquisition brings their total holdings to 15,555 BTC, or $1.68 billion. Metaplanet now ranks among the largest corporate holders of Bitcoin, surpassing Tesla and Coinbase, and trailing only MicroStrategy and Block.
The company has publicly stated its goal of holding 210,000 BTC by 2027, representing 1% of the total Bitcoin supply. These institutional investments provide a structural foundation for rising prices, quietly underpinning the crypto rally.
Trump Escalates Trade War Against BRICS Nations
Concurrently, reports indicated that Trump announced a 10% tariff on countries he alleges are "supporting BRICS," labeling them as "anti-American." This announcement coincided with the BRICS summit in Brazil, where new members, including Indonesia, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, have joined the organization to challenge Western economic dominance.
While the announcement garnered significant media attention, its immediate market impact was limited due to the tariff's delayed implementation and lack of specific details.
Conclusion: Can the Crypto Rally Last Through July?
With upcoming inflation data releases and ongoing geopolitical tensions, the cryptocurrency market is poised for continued volatility. However, current indicators suggest that bullish momentum may persist. The delay in implementing tariffs until August 1 provides the markets with some temporary relief.
Elon Musk's endorsement of Bitcoin has energized retail investor sentiment. Institutional investment from Metaplanet reinforces the long-term investment thesis. Much will depend on the CPI report scheduled for release on Thursday. A lower-than-expected inflation reading could increase the likelihood of a rate cut in the third quarter, potentially providing further impetus for the crypto rally.
Summary
The crypto rally accelerated as Bitcoin approached $110,000, with Dogecoin leading altcoin gains at 6%, and the America Party endorsing Bitcoin. Musk's "fiat is hopeless" comment generated significant discussion, and Trump responded to Musk's third-party plans. The tariff delay eased some macro pressure, and Metaplanet's $240M Bitcoin purchase boosted institutional confidence.
FAQs
- Why did Bitcoin surge towards $110K today?
Bitcoin increased in value as the U.S. delayed Trump’s new tariffs to August 1, trade war concerns diminished, and the broader crypto rally gained momentum. - What made Dogecoin go up 6%?
Dogecoin's increase was driven by retail interest, altcoin momentum, and Elon Musk's public support of Bitcoin. - What did Elon say about Bitcoin?
He stated on X that his new party, the America Party, will support Bitcoin, adding, "Fiat is hopeless, so yes." - How much Bitcoin does Metaplanet own now?
Metaplanet holds 15,555 BTC, valued at $1.68 billion, with a goal of holding 210,000 BTC by 2027. - Will inflation data affect the crypto rally?
Yes. Traders are awaiting the CPI report. A lower-than-expected number could boost risk assets and drive crypto prices higher.
Glossary
- Crypto Rally – A rapid increase in digital asset prices, typically driven by positive news, macro trends, or investor sentiment.
- CPI (Consumer Price Index) – A key U.S. inflation indicator, closely monitored by markets for signals about monetary policy.
- BRICS – An economic bloc comprising Brazil, Russia, India, China, and South Africa—recently expanded to include additional countries.
- Fiat – Government-issued currency not backed by a physical commodity like gold.
- Altcoin – Any cryptocurrency other than Bitcoin.
Sources
- Coindesk
- Coindesk – Elon Musk America Party Quote
- Business Insider – Trump vs Musk
- Time – Musk’s Party Announcement
- CoinMarketcap
Crypto Front News
Coindoo
CoinCryptoNews
Coinlive.me
Crypto Economy
Coindoo.com
Cointelegraph
Crypto News Land
BlockchainReporter