Bitcoin Surpasses $123,000 Amid Trump’s Cryptocurrency Vision and 30% EU Tariff Threats

Bitcoin has surpassed the $120,000 mark for the first time, reaching intraday highs above $123,000 amid renewed investor interest linked to US President Donald Trump. The surge in Bitcoin's price is partly attributed to Trump's influence and his cryptocurrency-related vision, which has boosted market optimism. Additionally, the rally occurs despite Trump's recent threats of imposing new 30% tariffs on the European Union, which have not deterred investors from driving Bitcoin to new highs. Market analysts note that prior bearish bets on Bitcoin may have contributed to the rapid price increase. The cryptocurrency continues to be viewed as a refuge amid perceived erratic leadership and ongoing geopolitical tensions.