The world’s largest cryptocurrency, Bitcoin, hit a new record all-time high of $1,12,000 on July 10, skyrocketing as much as 3.1 per cent — a cumulative jump of around 20 per cent this year, according to a Bloomberg report.
The momentum came as United States President Donald Trump restarted his tariffs blitz, with 50 per cent impositions each on all copper imports into the US, and on Brazil amid fued with President Lula.
Spencer Hallarn, global head of OTC trading at crypto investment firm GSR told BB that “voracious demand from equity market vehicles such as ETFs and digital-asset Treasuries has underpinned a continuous bid for Bitcoin.”
At the same time, Vincent Liu, chief investment officer at crypto trading firm Kronos Research cautioned, “Traders should stay vigilant for potential profit-taking or macroeconomic shifts that could spark corrections, but the trend is firmly bullish for now.”
‘Gold-like’ momentum? Crypto, Bitcoin outlook: What experts say…
“BTC’s move through $112,000 reflects the compounding effects of strong ETF inflows, rising institutional adoption, and a favorable macro backdrop,” said Adam Guren, founder and CIO at Hunting Hill Global Capital. “With rate cuts back on the table and political instability rising globally, investors are reaching for hard assets and Bitcoin is benefiting from both ‘gold like’ positioning and risk on momentum. What’s different this cycle is that the demand is structural, regulated, and sticky.”
(This is a developing story, more updates coming…)
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