Major cryptocurrencies experienced significant gains as U.S. Treasury Secretary Scott Bessent hinted at imminent trade deals ahead of a July 9 deadline. Bitcoin surged over 1%, briefly surpassing $109,000, while XRP and Solana's SOL climbed over 2% each, and Dogecoin rose by 3%. Bessent stated that the U.S. is close to finalizing several trade arrangements, and if negotiations stall, higher tariffs from earlier this year may be reinstated. Since President Trump's administration, imposing tariffs has been a strategy to improve U.S. wealth and trade balance. Following an announcement of a temporary pause in tariffs, Bitcoin recovered significantly, indicating a response from the market to potential positive trade negotiations. The urgency expressed by Bessent suggests that quick resolutions may unfold as the deadline approaches.

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