{"id":64203,"date":"2026-07-04T03:08:15","date_gmt":"2026-07-04T07:08:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-update-south-korea-rebukes-u-s-trade-claims-europe-battles-deadly-heatwave-and-bitcoin-flashes-bullish-cues\/64203\/"},"modified":"2026-07-04T03:08:15","modified_gmt":"2026-07-04T07:08:15","slug":"global-market-update-south-korea-rebukes-u-s-trade-claims-europe-battles-deadly-heatwave-and-bitcoin-flashes-bullish-cues","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-update-south-korea-rebukes-u-s-trade-claims-europe-battles-deadly-heatwave-and-bitcoin-flashes-bullish-cues\/64203\/","title":{"rendered":"Global Market Update: South Korea Rebukes U.S. Trade Claims, Europe Battles Deadly Heatwave, and Bitcoin Flashes Bullish Cues"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>South Korea\u2019s Democratic Party (DP) and Foreign Ministry officially rejected a U.S. House report<\/strong> alleging discriminatory &quot;harassment&quot; against Coupang (<a href=\"\/stock\/CPNG\">CPNG<\/a>), labeling the claims &quot;one-sided&quot; and lacking objective basis.<\/li>\n<li><strong>Europe\u2019s record-shattering June heatwave has resulted in over 1,300 deaths<\/strong>, with temperatures in Germany hitting a historic <strong>41.7\u00b0C<\/strong> and Spain reporting nearly <strong>1,000 heat-related fatalities<\/strong>.<\/li>\n<li><strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>) technical indicators have flashed three major buy signals<\/strong> on the 12-hour chart, including a <strong>Tom DeMark Sequential buy signal<\/strong> and bullish RSI divergence, targeting a move toward <strong>$65,400<\/strong>.<\/li>\n<li><strong>The U.S. House Judiciary Committee report<\/strong> accused Seoul of using &quot;coercive investigation tactics&quot; against American-owned firms, a charge South Korean officials claim interferes with lawful domestic data breach probes.<\/li>\n<\/ul>\n<h2>South Korea Rejects U.S. &quot;Discrimination&quot; Allegations<\/h2>\n<p>The South Korean government and the ruling Democratic Party (DP) have expressed &quot;strong regret&quot; over a recent <strong>U.S. House Judiciary Committee<\/strong> report. The 35-page document, titled <em>&quot;Closed for Competition,&quot;<\/em> alleged that South Korean antitrust authorities are engaging in a &quot;harassment campaign&quot; against the e-commerce giant Coupang (<a href=\"\/stock\/CPNG\">CPNG<\/a>).<\/p>\n<p>South Korean Foreign Ministry spokesperson Park Il stated that the report reflects only the &quot;unilateral claims&quot; of the company and ignores factual information provided by Seoul. Authorities maintain that the <strong>625 billion won ($403 million) fine<\/strong> and ongoing investigations into Coupang (<a href=\"\/stock\/CPNG\">CPNG<\/a>) are lawful responses to a massive data breach affecting over <strong>33 million users<\/strong>, rather than discriminatory trade practices.<\/p>\n<h2>Deadly June Heatwave Shatters European Records<\/h2>\n<p>A brutal early-summer heatwave has devastated Europe, with the <strong>World Health Organization (WHO)<\/strong> linking the extreme weather to more than <strong>1,300 deaths<\/strong> across the continent. Germany recorded a preliminary all-time high of <strong>41.7\u00b0C<\/strong>, while countries including Denmark, the Czech Republic, and the UK also saw century-old temperature records fall.<\/p>\n<p>The extreme heat has caused significant infrastructure strain, including <strong>melting roads and warped tram tracks<\/strong> in several major cities. In Spain alone, the MoMo monitoring system estimated nearly <strong>900 to 1,000 heat-related deaths<\/strong> in June, which has been branded the second-hottest June on record for the country since 1961.<\/p>\n<h2>Bitcoin Technicals Signal Potential Trend Reversal<\/h2>\n<p>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>) is showing signs of a decisive comeback after a period of lackluster performance, recently surging past the <strong>$62,500<\/strong> mark. Analysts have identified a rare &quot;cluster&quot; of bullish signals on the 12-hour chart, including a <strong>Tom DeMark (TD) Sequential buy signal<\/strong> and a <strong>SuperTrend flip<\/strong> to the upside.<\/p>\n<p>Market experts note that the <strong>Relative Strength Index (RSI)<\/strong> is currently forming a bullish divergence, where price makes lower lows while the indicator makes higher lows. If these signals are validated by sustained spot volume, the immediate technical target for Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>) is <strong>$65,400<\/strong>, which aligns with the current TD setup resistance trendline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways South Korea\u2019s Democratic Party (DP) and Foreign Ministry officially rejected a U.S. House report alleging discriminatory &quot;harassment&quot; against 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