Bitcoin surged nearly 5% within 24 hours to breach $118,000 for the first time ever, establishing a new all-time high. This rally coincided with significant declines in U.S. equity markets following President Trump’s imposition of fresh trade tariffs, including a 35% levy on Canadian goods.
The administration’s escalating trade measures—including a 50% tariff on Brazilian imports and threats of across-the-board tariffs ranging from 15% to 20%—have heightened fears of intensified trade conflicts. These actions prompted warnings from BRICS nations amidst the bloc’s recent expansion to include Saudi Arabia, Egypt, and the UAE, adding complexity to global economic dynamics.
Crypto-related equities showed resilience despite broader market declines, with MicroStrategy (MSTR), Coinbase (COIN), and Robinhood (HOOD) posting premarket gains. The performance reflects growing confidence in digital assets as geopolitical uncertainty mounts.
Bitcoin’s surge underscores its status as a decentralized asset with capped supply, drawing interest from both institutional and retail investors seeking alternatives during traditional market turmoil. Its positive movement amid equity sell-offs signals shifting investor preferences toward non-correlated assets.