Renewed Tariff Warnings from Trump Stir Up Concerns as Bitcoin and Hype Reach Record Highs: A Week in Crypto Review

Bitcoin soared past its previous all-time high of $109,100, reaching a new record of $112,000 despite several setbacks and price crashes. However, the cryptocurrency fell by $3,500 following US President Trump's renewed tariff warnings, proposing a 50% straight tax on all European Union countries.

Despite this, Bitcoin has maintained weekly gains of 5%, outperforming other cryptocurrencies such as ETH, XRP, BNB, SOL, and DOGE. This week also saw the rise of the altcoin HYPE, which experienced a 30% increase in value since last week. In other news, major US banks are considering a joint stablecoin venture, and concerns have been raised about the potential centralization issues posed by BlackRock's Spot Bitcoin ETF IBIT.