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Bitcoin (BTC) reached a caller all-time precocious of $112,040 connected July 9, edging supra the erstwhile intraday highest of $111,917.37 recorded connected May 22, TradingView data shows.
The breakout arrived hours aft President Donald Trump dispatched ceremonial tariff letters to 7 nations, unveiling duties of up to 30% that instrumentality effect Aug. 1.
According to CryptoSlate data, Bitcoin was trading astatine $111,238 arsenic of property time, up 2.4% implicit the past day.
ETF bid offsets classical risk-off impulse
Jag Kooner, caput of derivatives astatine Bitfinex, said the tariff header would usually spark “equity weakness, dollar spot and softer yields,” but argued that crypto present enjoys structural buffers unavailable successful anterior cycles.
He added successful a note:
“Spot-ETF inflows and the sovereign-hedge communicative mean immoderate policy-driven dollar determination tin provender backmost into crypto rates positively.”
Kooner besides said that Bitcoin whitethorn “dip initially alongside equities,” yet the beingness of regulated funds positions the plus for “greater upside erstwhile bullish catalysts align.”
Farside Investors recorded $75.3 cardinal of nett inflows into US spot Bitcoin ETFs connected July 8, lifting cumulative inflows to $49.9 cardinal since January.
The products person absorbed an mean $134 cardinal per trading time this quarter, reinforcing what Kooner called a “structural ETF support” floor.
Dollar alleviation and macro calendar
The US Dollar Index has fallen much than 14% year-to-date, giving what Kooner described arsenic “some overdue relief” that tin amplify crypto moves erstwhile superior seeks non-sovereign stores of value.
Market desks present ticker July’s user terms people and a Senate ballot connected the GENIUS Act for confirmation that liquidity conditions volition enactment benign.
Technical discourse and near-term levels
Bitcoin spent astir seven weeks consolidating betwixt $105,000 and $110,500 earlier piercing the precocious boundary.
Kooner flags $105,000–$108,000 arsenic the nearest “refresh” enactment portion should a macro daze emerge, portion a cleanable adjacent supra $112,000 connected the regular illustration “confirms the up-trend connected little timeframes.”
Options positioning echoes that view. Chicago Mercantile Exchange information bespeak that unfastened involvement is skewed toward the $115,000 and $120,000 July calls, portion enactment enactment clusters astatine $100,000.
Traders property the bullish skew to advisers hedging against imaginable downside for ETF inflow scenarios that accelerate whenever macroeconomic quality weakens the dollar.
The station Bitcoin hits caller all-time precocious supra $112k arsenic traders parse caller US tariff shock appeared archetypal connected CryptoSlate.
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