Bitcoin Hits $112,000 ATH Amid Tariff Uncertainty

Bitcoin (BTC) reached a new all-time high (ATH) of $112,000 on [Date], surpassing its previous high from May 22. This surge follows a strong upward trend, exceeding $111,000 earlier in the week.

Bitcoin's Record-Breaking Surge

The recent price increase builds on the momentum of the past 24 hours. After an intraday low of $108,357, Bitcoin bulls pushed the price higher. This successful attempt follows a previous failed record-breaking attempt on July 3. The market displays considerable strength.

CoinGlass reported that over $187 million in short positions were liquidated within the last 24 hours, significantly contributing to Bitcoin's price rise.

Impact of New Tariffs

The Bitcoin surge coincides with the announcement of new tariffs imposed by the U.S. government. President Trump expanded tariffs to seven additional countries, including Iraq, Moldova, and the Philippines. These tariffs, ranging from 20% to 30%, are set to take effect on August 1. Investors reacted by shifting their focus to cryptocurrencies, leading to a nearly 2% increase in Bitcoin's price.

Disclaimer: This information is for educational purposes only and should not be considered financial advice. The cryptocurrency market is highly volatile. Conduct thorough research and consider your risk tolerance before making any investment decisions.

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