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Bitcoin reaches new record peak exceeding $112,000 as traders analyze recent US tariff developments.
Bitcoin (BTC) achieved a new all-time high of $112,040 on July 9, surpassing the previous intraday record of $111,917.37 set on May 22, according to data from TradingView.
This breakout occurred shortly after President Donald Trump sent formal tariff letters to seven countries, announcing duties of up to 30% that will take effect on August 1.
As per data from CryptoSlate, Bitcoin was trading at $111,238 at the time of reporting, reflecting a 2.4% increase over the last 24 hours.
ETF bid mitigates traditional risk-off sentiment
Jag Kooner, head of derivatives at Bitfinex, noted that the tariff news would typically trigger “equity weakness, dollar strength, and softer yields,” but contended that the cryptocurrency market now possesses structural protections that were not present in earlier cycles.
He further stated in a note:
“Spot-ETF inflows and the sovereign-hedge narrative mean any policy-driven dollar move can positively influence crypto rates.”
Kooner also mentioned that Bitcoin might “initially dip alongside equities,” yet the involvement of regulated funds positions the asset for “greater upside when bullish catalysts align.”
Farside Investors reported $75.3 million in net inflows into US spot Bitcoin ETFs on July 8, raising total inflows to $49.9 billion since January.
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The products have averaged $134 million in daily trading inflows this quarter, reinforcing what Kooner referred to as a “structural ETF support” floor.
Dollar relief and macroeconomic calendar
The US Dollar Index has decreased by over 14% year-to-date, providing what Kooner described as “some overdue relief” that could enhance crypto movements when capital seeks non-sovereign stores of value.
Market participants are now monitoring July’s consumer price report and a Senate vote on the GENIUS Act for indications that liquidity conditions will remain favorable.
Technical context and short-term levels
Bitcoin spent almost seven weeks consolidating between $105,000 and $110,500 before breaking through the upper limit.
Kooner identifies $105,000–$108,000 as the nearest “refresh” support zone in the event of a macroeconomic shock, while a clear close above $112,000 on the daily chart would “confirm the up-trend on lower timeframes.”
Options positioning supports this perspective. Data from the Chicago Mercantile Exchange shows that open interest is leaning towards the $115,000 and $120,000 July calls, while put activity is concentrated at $100,000.
Traders attribute the bullish skew to advisers hedging against potential downside risks for ETF inflow scenarios that tend to accelerate whenever macroeconomic news weakens the dollar.
The post Bitcoin hits fresh all-time high above $112k as traders parse new US tariff shock appeared first on CryptoSlate.
