Bitcoin Shatters Records for Second Day Straight, Dow Jones Climbs Amid Tariff Tensions

Bitcoin's on fire, smashing through new all-time highs for two days back-to-back, and the Dow Jones isn't far behind, shrugging off those pesky tariff fears!

The big bucks from institutional investors are propelling Bitcoin (BTC) to dizzying heights. On Thursday, June 10, Bitcoin soared to an insane peak of $113,358.50, marking its second day in a row at the top. This crypto giant's up 3.65% in just 24 hours and has skyrocketed nearly 96.2% since this time last year. Boom!

What's driving this wild ride? It's a mix of hot demand for Bitcoin ETFs, a sweet macro environment, and more companies stuffing their treasuries with BTC. Both regular folks and big players are feeling bullish as the U.S. gets all cozy with crypto. Plus, with the dollar taking a nosedive, institutions are scrambling for safe-haven assets.

Bitcoin's epic rally is giving the whole crypto market a major boost. The total crypto market cap's hit $3.52 trillion, up 3.64% in a day. And get this—Ethereum (ETH) is outpacing Bitcoin, jumping 5.54%!

While the crypto world's popping off, the stock market's also on the up and up, even with those trade war jitters. The Dow Jones surged 270 points, or 0.61%, and the S&P 500 climbed 0.28%. The Nasdaq? Barely budged, dipping just 0.01% as tech stocks lag.

Trump Rattles Brazil with 50% Tariff Threat

But hold up, it's not all sunshine and rainbows—trade tensions are still a big worry. President Donald Trump's just thrown a 50% tariff bomb at Brazil, pissed off about the treatment of ex-right-wing President Jair Bolsonaro. And Brazil's not taking it lying down, threatening to hit back with their own tariffs on U.S. goods.

Brazil's a huge trading partner for the U.S., with imports hitting $42.3 billion in 2024. These harsh tariffs follow similar threats against Japan, South Korea, and the Philippines, where Trump's been waving tariffs between 20% and 30%.

Trump's using these tariff threats like a geopolitical chess piece, aiming at more than just trade imbalances. Back in January, he even threatened tariffs on Colombia over their refusal to deport migrants.