Bitcoin News Today: Gold Futures Hit Record High as U.S. Tariffs Disrupt Market

Gold continued its strong performance in early August 2025, with U.S. gold futures hitting an all-time high of $3,534.10 after the U.S. announced tariffs on 1-kg gold bars. The move, outlined in a July 31 letter from the U.S. Customs and Border Protection, reclassified the bars under a new customs code subject to higher tariffs, potentially disrupting global gold settlement mechanisms and liquidity [1]. Spot gold also showed resilience, gaining approximately 1% for the week, with prices hovering around $3,394.36 per ounce amid heightened geopolitical and economic uncertainty [1].

Bitcoin, on the other hand, recorded a 1.24% weekly increase, reaching $116,846 on August 8 [2]. While this reflected modest growth, it still lagged significantly behind gold’s record high. The cryptocurrency’s price has approached its 50-day moving average, a level traders use to assess accumulation or distribution trends. Analysts noted the market is in a consolidation phase, with unfilled price gaps suggesting potential for further volatility [3].

The U.S. tariff announcements and broader trade tensions have historically favored gold as a safe-haven asset, and this trend has continued. Bitcoin has also seen speculative interest linked to pro-crypto policy developments, particularly under the Trump administration. Futures market data showed a surge in speculative activity, followed by rapid position unwinding as traders reacted to shifting policy expectations [4]. Despite this, Bitcoin remains well behind gold in terms of performance.

Macroeconomic conditions are also shaping investor sentiment. Weak U.S. payroll data reinforced expectations of a Federal Reserve rate cut in the coming months, with the CME FedWatch tool showing a 91% probability of a 25-basis-point reduction [1]. This environment supports both gold and Bitcoin as potential hedges against inflation and interest rate uncertainty. Analysts have suggested that Bitcoin can act as a liquidity “release valve” during periods of market tension, especially when traditional equity markets experience valuation expansion [5].

Gold’s rally has also benefited from speculative buying and reduced risk aversion, particularly in Asian markets. The widening spread between U.S. gold futures and spot prices reflects liquidity disruptions caused by the new tariffs [1]. This could have a notable impact on Switzerland, the world’s largest gold refining hub, which may struggle to adapt to the new classification rules.

Bitcoin’s short-term gains have not yet translated into a narrowing performance gap with gold. Its price volatility and relative youth as an asset class make it less reliable than gold during times of geopolitical and economic stress. However, with both assets responding to similar macroeconomic forces, the question remains whether Bitcoin can continue to close the performance gap in the coming months.

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[1] PRECIOUS-Gold futures hit record high after report of US tariffs on gold bars (https://www.marketscreener.com/news/precious-gold-futures-hit-record-high-after-report-of-us-tariffs-on-gold-bars-ce7c5edcde88f123)

[2] Bitcoin Hits $116K, Holds Firm Despite Trump's Counter- (https://pintu.co.id/en/news/190477-bitcoin-price-update-today-8august2025/amp)

[3] Bitcoin Could See Another Crash To Fill This Imbalance (https://www.mitrade.com/au/insights/news/live-news/article-3-1019346-20250807)

[4] Trump's Pro-Crypto Orders See Bitcoin Futures Open (https://decrypt.co/334173/trumps-pro-crypto-orders-bitcoin-futures-open-interest)

[5] Capital Flows - Bitcoin as a Macro Liquidity “Release Valve” (https://x.com/Globalflows/status/1953525747349586218)