Bitcoin holds above US$109k after tariff delay

Key market insights

• Bitcoin holds strong above US$109k after tariff delay: Boosted by Trump’s EU tariff delay, Bitcoin bounced back from a brief dip after hitting its new ATH
• Major US banks explore joint stablecoin to counter crypto competition: Major US banks are working on a new stablecoin to compete with crypto
• Theta Capital secures US$175M to back crypto venture funds: Theta Capital has raised over US$175M for its latest blockchain-focused fund to invest in top-tier crypto VC firms
• XRP adoption rises among Singaporean crypto investors: XRP now makes up 17% of Singaporean crypto portfolios in 2025, up from 14% last year

The weekly trading stats as of Monday, May 26th at 10:00 am AEST, based on data from Tradingview in USD.

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Bitcoin holds strong above US$109k after tariff delay

Bitcoin surged to a new all-time high of US$111,980 last Thursday and has held its ground since, currently trading above US$109,000. This rally is being attributed by analysts on US President Trump's decision to delay the implementation of a 50% tariff on European Union goods until July 9th, 2025. Although Bitcoin went through a brief dip below US$108k following the initial tariff announcement, it has since rebounded and is currently moving sideways. It's worth noting Bitcoin's apparent resilience despite being mired in geopolitical and macroeconomic uncertainties. As the new tariff deadline approaches, market participants will be closely watching developments in US-EU trade negotiations.

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Major US banks explore joint stablecoin to counter crypto competition

Leading US banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are reportedly in early discussions to develop a joint stablecoin. This initiative aims to address the growing competition from the cryptocurrency sector and meet the increasing demand for faster, more efficient payment solutions. The plan involves collaboration with entities like Early Warning Services, the operator of Zelle, and The Clearing House, which supports real-time payments. The project's progression depends on regulatory developments, particularly the outcome of the GENIUS Act, a bill that seeks to establish a regulatory framework for stablecoin issuance.

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Theta Capital secures US$175M to back crypto venture funds

Amsterdam-based Theta Capital Management has successfully raised over US$175 million for its latest blockchain-focused fund-of-funds. This is part of a strategic push to back early-stage crypto startups through established venture capital firms. Their new fund is called Theta Blockchain Ventures IV and will deploy capital into specialized crypto-native VC firms with a strong track record of identifying and supporting blockchain innovation, according to managing partner and CIO Ruud Smets. The firm has previously invested in top-tier crypto VCs including Polychain Capital, CoinFund, and Castle Island Ventures. The fund launch comes as venture capital interest in crypto begins to rebound.

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XRP adoption rises among Singaporean crypto investors

A recent report indicates that XRP now comprises 17% of Singaporean crypto portfolios in 2025, up from only 14% last year, which reflects growing interest in altcoins beyond Bitcoin. This trend perfectly aligns with increased awareness of cryptocurrencies in Singapore, where 94% of locals are familiar with at least one digital asset. Ripple's RLUSD stablecoin also gains traction, reaching a US$310 million market cap, which highlights the nation's expanding engagement with diverse crypto assets.

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Looking ahead

Bitcoin’s break above US$111k to set a new all-time high, has signalled renewed bullish momentum as markets move into the latter half of Q2 2025. While its price has since consolidated around US$109k, analysts view the Trump administration's tariff delay and macro tailwinds as strong undercurrents supporting the price rally. Data from Glassnode has confirmed that spot buying continues to dominate, reinforcing the thesis that this current cycle is led more by conviction than speculation.

Institutions have also remained active on multiple fronts. JPMorgan now predicts that Bitcoin could outperform gold through the rest of 2025, Ripple is piloting real-world payment use cases on the XRP Ledger, and new global funds are raising large sums for crypto exposure. Key regulatory discussions and policies are also shaping up behind the scenes, potentially setting the stage for the next phase of the crypto-finance combo.

Volatility is likely to return as markets react to upcoming rate decisions and ongoing geopolitical developments, but the big question is whether Bitcoin can hold its gains steady and make a serious path beyond US$112k. Traders will be closely watching volume, ETF flows, and key economic indicators for signs of the next leg higher.

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