Bitcoin first broke $112,000, setting a historical high, as traders ignored tariff concerns.

Bitcoin soars above $112,000, setting a new all-time high According to Bloomberg data, the price of Bitcoin has surpassed the $112,000 mark for the first time, setting a new all-time high (ATH) and leading to a broad rally in risk assets. This surge has swept through tech stocks, benefiting both large and small tech companies. As the pioneer of cryptocurrencies, Bitcoin saw an intraday high increase of 3.1%, reaching $112,009, bringing its year-to-date gain close to 20%.

Gate market shows that BTC is currently at 111,322.0 USD, with a 24-hour increase of 2.34%.

Risk assets have surged broadly, ignoring the impact of Trump's tariff policy This strong trend highlights the current strong speculative atmosphere in the market. Despite U.S. President Donald Trump announcing a new round of tariff policies, it failed to dampen market enthusiasm. The rise of cryptocurrencies is not an isolated phenomenon: Nvidia Corp. saw its market capitalization approach $4 trillion during Wednesday's trading, pushing the S&P 500 index close to its historical high, with hot money investors flocking into the stock market.

Institutional capital inflows become a key driving factor, and demand for Bitcoin ETFs is strong Spencer Hallarn, Global Head of OTC Trading at cryptocurrency investment firm GSR, pointed out: "The strong demand from stock market instruments such as Bitcoin spot ETFs and (publicly listed companies) digital asset reserves provides continuous buying support for Bitcoin." The continuous inflow of funds into the Bitcoin spot ETF and the adoption of institutional-grade custody services are key factors driving this bullish market.

Bull market benefits crypto companies, financing activities are expected to be activated This increase is a significant benefit for the new generation of Wall Street traders and corporate executives (especially those in crypto asset reserve companies). They hope that the token prices will rise to kick off a new round of financing activities. The valuations of cryptocurrency financing and blockchain startups are expected to be boosted in this context.

Trump's policy expectations boost the market, validating the logic of the crypto bull market The breakthrough rise of Bitcoin driven by institutional demand has provided the latest evidence for cryptocurrency bulls. These investors began betting after the November elections last year that the Trump administration would usher in a new era of loose regulation, and they acted quickly. The potential shift in cryptocurrency regulatory policy has become an important market expectation.

Volatility remains, crypto traders need to beware of pullback risks Nevertheless, under the large environment of volatility throughout the year, the digital asset market is still influenced by the fluctuations in Wall Street sentiment. Vincent Liu, Chief Investment Officer of cryptocurrency trading firm Kronos Research, reminds: "Traders should remain vigilant and guard against the potential risks of profit-taking or pullbacks triggered by macroeconomic shifts, but the current trend is undoubtedly strongly bullish." Cryptocurrency risk management and cryptocurrency market volatility alerts are crucial for investors.

The options market shows optimistic sentiment, key resistance levels are being watched The short-term options market is also sending out optimistic signals. On the cryptocurrency exchange Deribit, call options (bullish contracts) expiring at the end of July show high open interest at strike prices of $115,000 and $120,000. This indicates that Bitcoin options traders are betting that the price will further challenge these key resistance levels.

Structural demand supports this bull market, Bitcoin has both safe-haven and risk attributes Adam Guren, founder and chief investment officer of Hunting Hill Global Capital, analyzed: "The breakthrough of Bitcoin at $112,000 reflects the compound effect of strong capital inflows into Bitcoin ETFs, increased institutional adoption, and a favorable macro backdrop. With renewed expectations for interest rate cuts and escalating global political instability, investors are seeking to allocate to 'hard assets'. Bitcoin also benefits from 'gold-like' safe-haven allocations and a rising momentum of 'risk appetite'. What differentiates this cycle from previous ones is that the demand is structural, regulated, and sticky." The narratives of Bitcoin institutional adoption and Bitcoin as digital gold are strengthened, and cryptocurrency macro analysis shows its unique positioning.