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Bitcoin Price Today: Below Record $112K Amid Profit-Taking and Tariff Concerns
Bitcoin rose on Thursday but remained below the near-record high of almost $112,000 it briefly touched a day earlier, as profit-taking and renewed concerns over U.S. tariffs tempered investor enthusiasm.
The world’s largest cryptocurrency was up 2.1% to $110,961.70 as of 08:48 Moscow time.
On Wednesday, it briefly spiked to an all-time high of $111,988.20, but later pared gains as investors locked in profits at peak levels.
Bitcoin Rallies on Institutional Demand
The rally came amid increasing investments from institutional players, including firms adding bitcoin to corporate treasuries and ETFs managed by major asset managers.
Corporate treasuries continue aggressively accumulating bitcoin. Strategy Inc (NASDAQ:MSTR) remains the most prominent, but new players like GameStop Corp (NYSE:GME) have also announced board-approved bitcoin purchases.
Earlier this week, Trump Media (NASDAQ:DJT) filed a request with the U.S. Securities and Exchange Commission (SEC) to approve a new “Crypto Blue Chip ETF” to launch this year — the third such application from the company in July.
These structural factors — ETF inflows, corporate treasury expansion, and supportive U.S. policy — have strengthened bitcoin's appeal as an institutional-grade asset.
Trump's Tariff Threats Curb Breakout
Bitcoin had been trading within a range recently, but broke out on Wednesday. However, concerns over looming trade tariffs before the August 1 deadline are pressuring prices.
Looking ahead, investors are focused on “Crypto Week” starting July 14, when U.S. lawmakers are expected to advance at least three major bills related to digital asset regulation.
On Wednesday, President Trump announced a 50% tariff on copper imports, effective August 1, and raised retaliatory tariffs on Brazil from 10% to 50%.
Meanwhile, uncertainty around the Federal Reserve’s interest rate outlook is further weighing on crypto markets. Only a few Fed officials supported a rate cut at the June 17–18 meeting, while most expressed concerns about inflation risks tied to Trump’s trade policy, according to minutes released Wednesday.
See also: "Bitcoin price today: holds near $109K amid tariff fallout concerns"
