- Bitcoin climbed back to $110k, fueled by a $100 billion surge in total crypto market cap
- Tariff’s “extension” suggested a 9 July implementation may still be on the table
- While President Trump flipped from hitting the E.U with a 50% tariff to pausing it all within a day, the crypto market kept moving forward. In fact, in the last 72 hours, Bitcoin [BTC] has climbed by nearly 3%, staying steady despite the back-and-forth on the charts.
Does that mean BTC is shrugging off macro risks though? Not really. In fact, the recent $100 billion surge in total crypto market cap to $3.44 trillion came on the heels of Trump’s tariff announcement on Truth Social.
Consequently, Bitcoin closed at $109,401, breaking out of the range it had traded in since it dropped by 3.79% on 23 May from its all-time high of $111,917. In short, the overall impact was bullish.
That being said, a closer read of the tweet revealed the word “extension”. It suggested that the 50% tariff is still slated to hit starting 9 July, unless some surprise backroom deal shakes things up.
So, does that put Bitcoin’s brief intraday pop to $110,339 in the “temporary” bucket too? A rally built on short-term “hype,” perhaps?
Bitcoin builds strength on growing conviction
The investor dilemma is real. The tariff announcements keep piling up, making it tough to track them all. Chances are the market will quickly shrug off this 50% tariff noise in the days ahead.
Because, at the end of the day, it’s not the headlines that move markets. Instead, what truly matters is what those headlines actually mean.
As AMBCrypto pointed out earlier, the U.S. stock market has bled trillions, while the bond market is diving back into heavy sell-offs. In this rollercoaster, Bitcoin’s carving out a chance to shine.
Its nearly 3% jump is solid proof. Zooming in, the micro picture seemed to tell us the same story too. On 23 May, U.S Spot Bitcoin ETFs saw massive net inflows of 7,869 BTC – The biggest daily boost since 29 April.
According to AMBCrypto, this conviction is the real deal. Put simply, it’s the “greed” for future gains that’s keeping this rally charging ahead.
2025 has shown us that despite all the macro FUD, Bitcoin’s all-time high has thrived. So, calling this a “temporary” boost? That misses the mark.
With the looming tariff reinstatement on the horizon, one thing’s clear – BTC isn’t hitting the brakes at $110k anytime soon. New highs? They’re well within reach.
