Bitcoin Hits ATH, ETF Inflows Surge, Trump Demands Big Rate Cut

Bitcoin surged to a new all-time high above $112k, buoyed by record inflows into spot Bitcoin ETFs and renewed political pressure on the Fed for lower rates from US President Donald Trump.

The BTC price has since pared gains to trade at $111,209.14 as of 2:21 a.m., still 2% up in the past 24 hours. 

Net daily inflows for spot Bitcoin ETFs (exchange-traded funds) reached $215.7 million yesterday, pushing cumulative net inflows above $50 billion, according to data from Farside Investors.

The strong demand for spot Bitcoin ETFs “appears to be forcing underpositioned traders back into the market,” said 10x Research founder Markus Thielen in a note to clients yesterday

Trump Pressures Fed For Huge Rate Cut

“Our Fed Rate is AT LEAST 3 Points too high,” Trump wrote on Truth Social, as he renewed criticism of Fed Chair Jerome Powell. “Too Late is costing the US 360 Billion Dollars a Point, PER YEAR, in refinancing costs… LOWER THE RATE. No Inflation, COMPANIES POURING INTO AMERICA. ‘The hottest Country in the World!’ LOWER THE RATE.”

It’s official:

President Trump is now calling for the first 300+ basis point interest rate cut in US history.

This would be 3 TIMES larger than the 100 bps cut on March 15th, 2020, the largest in history.

So, what happens if the Fed does this? Let us explain.

(a thread) pic.twitter.com/k3Bo0ri1zY

— The Kobeissi Letter (@KobeissiLetter) July 9, 2025

Thielen said political pressure from Trump on Powell is the main driving force for the “sharp surge in Bitcoin ETF inflows since late April.” 

Powell has resisted calls for rate hikes, and recent Fed minutes show a divided outlook—some officials see a rate cut coming this month, while others argue reductions this year would be premature.

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