After many weeks of fluctuating in the range of 105,000-110,000 USD, the price of bitcoin has officially broken out of the resistance zone and set a new peak at 112,000 USD, raising the total market capitalization of this digital currency to 2,208 billion USD.
Despite a slight correction to around $111,000, bitcoin has still recorded an increase of more than 18% since the beginning of the year.
This price increase was mainly driven by positive signals from the US government. Specifically, President Donald Trump decided to postpone the deadline for increasing tariffs to August 1 for countries that have not reached a trade agreement with the US. This is 3 weeks later than the original plan (July 9) to create conditions for countries to continue negotiations.
US Treasury Secretary Scott Bessent later confirmed that if negotiations are successful before the deadline, tariffs will be returned to their original levels.
These moves have raised expectations of possible concessions and agreements between the parties, thereby making risk assets like bitcoin more attractive to investors.
Bitcoin price suddenly increased sharply (Photo: Binance).
Recently, President Trump also called on the Federal Reserve (Fed) to cut interest rates by up to 3 percentage points. This is expected to strongly support risky assets such as cryptocurrencies.
In addition to the push from policies, strong capital flows from large companies and financial institutions continue to pour into the cryptocurrency market, becoming a sustainable driving force for bitcoin's growth.
According to experts, more and more large financial institutions see bitcoin as a potential reserve asset. "Bitcoin is a rare asset class where the risk decreases as its size increases," said Anthony Pompliano, CEO of investment firm Professional Capital Management, in the report.
He believes that when bitcoin's market capitalization was low, few institutional investors dared to approach it, but now that this asset has reached a scale of trillions of dollars, large investors around the world can completely allocate capital here.
The crypto-friendly policies of the Trump administration are also helping to promote this field. Recently, Trump Media & Technology Group - a company run by the Trump family - has filed documents with the US market regulator to establish an exchange-traded fund (ETF) to invest in many cryptocurrencies such as bitcoin, ethereum, solana...
Meanwhile, spot bitcoin ETFs are also managing nearly $150 billion, showing that institutional money flows into the market remain strong despite industry-wide volatility.
Source: https://dantri.com.vn/kinh-doanh/bitcoin-tang-dung-dung-len-moc-cao-nhat-moi-thoi-dai-20250710113648983.htm
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