Trump, Bitcoin and tariff
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Amid escalating tariffs, Bitcoin decouples from trade news, offering a stable hedge while blockchain enhances supply chain resilience.
BTC jumped within 30 minutes of Trump’s rate-cut post as analysts weighed inflation risks and the impact of a potential 300 bp cut on asset prices.
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Cryptopolitan on MSNBitcoin ETFs inflows set new post-Trump election victory highUS Bitcoin spot exchange-traded funds (ETFs) recorded their second-biggest inflow day in history. The Bitcoin ETF infow rate is surpassed only by the day Donald Trump won the US presidential election last November.
Bitcoin price was edging lower on Tuesday, but it isn’t the sort of selloff that will spark any real concern among crypto bulls. The world’s largest token by total market capitalization was down 0.7% to $108,
Factors contributing to Bitcoin’s surge include the pro-crypto stance of President Trump, which has spurred greater interest from institutional investors.
Bitcoin ( BTC-USD) hits all-time high of $117K as crypto rally gains momentum. (00:21) DOJ clears path for T-Mobile's ( TMUS) $4.4B acquisition of UScellular assets, closes antitrust probe. (01:16) Trump slaps 35% levy on Canada, warns further hikes if Ottawa retaliates. (02:57)
Tanaya Macheel, CNBC Investing Reporter, breaks down Bitcoin's strong rally driven by short liquidations and Ethereum’s resurgence, fueled by stablecoin interest and its foundational blockchain use.
On July 10, Trump hailed the crypto market for hitting "through the roof." Bitcoin, which had for the first time surpassed the $112,000 mark the previous day, hit a new record high of $113,833.84 within a few hours.