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Bitcoin Tops Record $112,000 on ETF Demand and Tech Stock Rally

Easing trade tensions after President Donald Trump’s tariff postponement plus hefty ETF demand propelled Bitcoin to break its record.

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Overview

  • On July 9, Bitcoin briefly climbed above $112,000 before pulling back to around $111,000, marking a new all-time high.
  • BlackRock’s iShares Bitcoin Trust has accumulated over $65 billion in BTC, contributing to $138 billion managed across 66 spot ETFs.
  • A tech-led equity rally, highlighted by Nvidia reaching a $4 trillion market cap, reinforced a broader risk-on mood that boosted crypto assets.
  • President Donald Trump’s decision to delay fresh tariffs until August 1 alleviated a key macroeconomic headwind for risk markets.
  • Bitget Research analysts now project that Bitcoin could test $120,000 by month-end if institutional flows and bullish momentum persist.