Bitcoin News Today: Bitcoin Gains Momentum as Trump Tariffs Shift Investor Demand from Gold

Bitcoin’s price is showing signs of a potential bullish breakout amid shifting macroeconomic dynamics triggered by President Donald Trump’s unexpected imposition of new tariffs on gold. The move, which affects one-kilogram and 100-ounce gold bars without granting them tariff exemptions, has disrupted market expectations and intensified investor focus on alternative stores of value [1]. The development has particularly benefited Bitcoin, which remains free from such tariffs and is increasingly viewed as a digital counterpart to traditional bullion.

The new tariff structure applies to gold imports from key producers such as Switzerland, Canada, Mexico, Peru, Australia, and South Africa, with Swiss gold facing the highest rate at 39%. As a result, gold prices have surged to an all-time high of $3,051 per ounce, reflecting growing demand for safe-haven assets amid economic uncertainty [6]. However, the added costs associated with physical gold have led some investors to reevaluate their allocation strategies, with Bitcoin emerging as a more accessible and liquid alternative.

Bitcoin has been consolidating between $114,900 and $116,000 in recent sessions, maintaining support above its 50-day moving average and its previous peak of $112,015 from May 2022. The formation of a bullish flag pattern on the daily chart suggests a potential breakout could be imminent, with a clean close above $116,000 serving as a key technical trigger for further upward momentum [5]. If this level is successfully tested, the next major resistance appears at $123,200, Bitcoin’s year-to-date high, with a potential target of $131,250 based on Murrey Math Lines [5].

The broader macroeconomic landscape is also shifting in Bitcoin’s favor. Trump’s executive order allowing retirement funds to invest in cryptocurrencies has introduced a new source of capital inflow into the market, potentially accelerating price appreciation. Additionally, the likelihood of a Federal Reserve rate cut in September has increased following the release of weaker-than-expected employment data, further supporting risk-on sentiment [1]. These developments align with Bitcoin’s historical performance, which has outpaced gold by a wide margin over the past five years, with the cryptocurrency rising over 1,000% compared to gold’s 72% [1].

Retail investors are also adjusting their tactics, with “smart DCA” strategies gaining traction as a way to navigate short-term volatility. Institutional activity remains mixed, though some whale movements suggest a cautious but optimistic market stance [4]. Despite a recent dip after breaking out of the $116K consolidation range, Bitcoin’s overall trend remains intact, with analysts highlighting the potential for a sustained bullish phase if key levels continue to hold [5].

As gold continues to trade near record levels and approaches potential targets in the $3,550 to $3,600 range, the question remains whether Bitcoin can replicate this momentum. The cryptocurrency’s current price action suggests it is in a period of consolidation ahead of a potential breakout, with Trump’s tariff policy acting as a catalyst for renewed volatility and investor reallocation [5]. The interplay between traditional safe-haven assets and digital alternatives is becoming increasingly significant, with Bitcoin’s growing adoption and regulatory advancements placing it in a unique position to capture market attention.

Source:

[1] Crypto - https://crypto.news/bitcoin-price-nears-breakout-to-ath-as-trump-adds-tariffs-on-gold/

[3] investingLive - https://investinglive.com/news/gold-breakout-to-record-high-traders-got-the-early-call-from-investinglivecom-20250808/

[4] Mitrade - https://www.mitrade.com/insights/news/live-news/article-3-1018039-20250807

[5] Binance - https://www.binance.com/en/square/post/28021355453377

[6] Facebook - https://www.facebook.com/groups/cryptogb/posts/24119025257717913/

[9] FOREX.com - https://www.forex.com/ie/news-and-analysis/eurusd-tests-1-17-as-dxy-dips-to-98-breakout-or-range/