Bitcoin Price Hits New ATH Amid Trump Tariff Scare

Bitcoin price has hit a new all-time high (ATH) of $112,000 for the first time since May 22. This ATH follows a surge above the $111,000 mark earlier in the week. The recent rise in Bitcoin’s price comes amid rising global economic uncertainty, especially following new trade tariffs imposed by U.S. President Donald Trump.

Bitcoin Price Records New All Time High

Bitcoin price recent surge marks a strong upward trend in the last 24 hours after hitting an intra-day low of $108,357. The BTC price rise comes after a failed attempt to break the record on July 3. However, Bitcoin bulls appear to be firmly in control this time, with the market continuing to display strength.

A report by CoinGlass noted that over $187 million in short positions were liquidated in the past 24 hours, adding to the momentum of Bitcoin’s price increase.

The surge in Bitcoin’s price coincided with the announcement of new tariffs by the U.S. government. Today, President Trump expanded tariffs to seven additional countries, including Iraq, Moldova, and the Philippines. The new tariffs, ranging from 20% to 30%, are set to take effect on August 1. The markets reacted swiftly to the news, with Bitcoin climbing nearly 2% as investors shifted their focus to cryptocurrencies.

This Is A Developing News, Please Check Back for More

✓ Share:

Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary .


With a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets.


His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content.


Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape.


Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.