NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Could U.S. Tariffs Be Behind Bitcoin’s Rally Towards $11,000?

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has been able to extend the upwards momentum it has incurred over the past several days and is now nearing the key resistance level of $11,000, which was the price at which BTC faced a swift rejection that sent the crypto reeling down to lows of $9,100.

Now, some are theorizing that the United States’ latest set of tariffs on China may have sparked this BTC rally, as most “safe haven assets” are currently surging.

Bitcoin Climbs Towards $11,000 as Bears and Bulls Battle

At the time of writing, Bitcoin is trading up nearly 2% at its current price of $10,770, which is up significantly from its daily lows of $10,400.

This price surge today marks an extension of the upwards momentum that Bitcoin first incurred last weekend when its price sharply dipped to $9,100 before quickly recovering and starting an uptrend that has sent the crypto back to its current price levels.

Importantly, a couple of weeks ago BTC sharply rose to highs of $11,000 before facing a significant sell-off that sparked a week-long downtrend. It remains unclear as to whether or not this price level will once again have insurmountable selling pressure.

Josh Rager, a popular cryptocurrency analyst, spoke about Bitcoin’s near-term resistance in a recent tweet, explaining that $10,800 is a short-term resistance level.

“$BTC Weekly Chart: Currently, Bitcoin price is testing the resistance level $10,833: Price must not only break but want to see the price above on the weekly close in less than 48 hours. Support needs to hold above previous resistance at $10,590. Close above $10,833 is bullish,” he said.

https://twitter.com/Josh_Rager/status/1157497316141654016

Did U.S. Tariffs Spark the Recent Rally?

This past week it was announced that the US will be placing additional tariffs on Chinese imports, which instantly led to a sell off in the global equity markets.

Importantly, many safe haven assets have surged in the time since these tariffs were announced, which may strengthen the Bitcoin “Gold 2.0” narrative.

“$BTC has rallied together with multiple safe-haven assets after Trump’s latest tariff storm. Will the trade war continue to be a catalyst for #Bitcoin’s price growth?” Binance Research explained in a recent tweet while referencing the below graph.

$BTC has rallied 📈 together with multiple safe-haven assets after Trump's latest tariff storm.

Will the trade war continue to be a catalyst for #Bitcoin's price growth? 🤔 pic.twitter.com/Ghf0eqvazF

— Binance Research (@BinanceResearch) August 2, 2019

As the global economy continues to face instability, it is likely that analysts will gain better insight into whether or not this instability will prove to be a positive thing for BTC.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

트럼프, 백악관 연설서 비트코인 지지… BTC불 토큰 수혜 볼까?

트럼프, 백악관 연설서 비트코인 지지… BTC불 토큰 수혜 볼까?

도덜드 트럼프(Donald Trump)가 백악관 기자회견에서 비트코인을 다시 극찬하며 지지 입장을 밝혔다. 그는 비트코인이 ‘놀랍다’고 표현하며 경제 전반에서...

Soyeon Lee 25 minutes ago
XRP

Insane Or Insightful? VC Firm Says XRP Could Reach Nearly $9,000 In Just 5 Years

US regulators and market watchers are eyeing a fresh valuation study that puts XRP on track for a dramatic price...

Christian Encila 1 hour ago
Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Ethereum is trading above $2,400 after enduring several days of volatility and uncertainty. The price has managed to stabilize despite...

Sebastian Villafuerte 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Holds Steady

Bitcoin Price Holds Steady — Bullish Monthly Structure Suggests Rally Continuation

Aayush Jindal 14 minutes ago
제미니, 비트코인 대량 보유한 MSTR 주식 토큰화… 다음 유망 알트코인은?

제미니, 비트코인 대량 보유한 MSTR 주식 토큰화… 다음 유망 알트코인은?

Soyeon Lee 18 minutes ago
Dogecoin

Dogecoin Under Pressure: Only Top 10 Coin Where Loss-Taking Exceeds Profit

Keshav Verma 22 minutes ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール残り24時間で800万ドル目前 次の100倍銘柄となるか?

    ...

    11 hours ago
  • 1ドル以下で注目される仮想通貨おすすめ、Solana系トークンに割安銘柄あり?

    ...

    11 hours ago
  • Най-добрите криптовалути преди...

    12 hours ago
  • リップルとSECの訴訟終了後に注目すべき新しい仮想通貨プロジェクトとは

    ...

    12 hours ago
  • BTC

    仮想通貨 おすすめ:BTC Bull...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.