Crypto Stocks Keep Soaring — But Trump’s Tariff Deadline Looms, and a Market Shock May Be Imminent

TradingKey – Bitcoin (BTC) broke above $110,000 on Thursday, fueling another leg up for crypto-related equities. However, with Trump’s tariff deadline approaching, analysts warn that the rally could soon hit a wall.

Among the top gainers:

- Canaan (CAN) surged nearly 9%,

- Circle (CRCL) jumped over 6%,

- Hut 8 Mining (HUT) rose nearly 4%,

- Coinbase (COIN) and MicroStrategy (MSTR) posted modest gains.

But the bullish momentum may not last. Wednesday, July 9 marks the final deadline for tariff negotiations, and President Trump has confirmed there will be no extension. As early as Friday, the administration is expected to begin notifying trade partners of new tariff rates.

Trump has hinted at tariffs ranging from 10% to 70%, depending on the country. Treasury Secretary Scott Bessent added that the U.S. may impose at least 10% reciprocal tariffs on over 100 nations.

According to analyst Vetle Lunde, tariff uncertainty tends to dampen market momentum, and could weigh on Bitcoin’s performance in the coming weeks. If BTC stalls, Ethereum (ETH) , Solana (SOL) , and crypto equities may also face downside pressure.