Boutique Media & consulting group
BTC$109641
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XRP$2.34
Bitcoin’s recent rally faced a setback as the cryptocurrency’s price fell below $107,000 following President Donald Trump’s announcement of new tariffs on European Union imports. The proposed 50% tariffs, set to commence on June 1, 2025, have reignited global trade tensions, leading to a broad sell-off in risk assets, including cryptocurrencies.
The market reacted swiftly to the tariff news, with Bitcoin dropping from approximately $109,239 to a low of $106,670 within a 24-hour period. This decline represents a 2.35% decrease, highlighting the sensitivity of digital assets to macroeconomic developments.
Despite the downturn, institutional interest in Bitcoin remains robust. U.S. spot Bitcoin ETFs recorded significant inflows, with $934 million on May 22 and $608 million on May 21, indicating continued confidence among institutional investors.
Technical analysis suggests that Bitcoin is currently trading within a compression zone, bounded by key support and resistance levels. Analysts are closely monitoring these levels to assess potential breakout or breakdown scenarios in the near term.
As the June 1 deadline for the proposed tariffs approaches, market participants are bracing for increased volatility. The interplay between geopolitical developments and market dynamics will likely continue to influence Bitcoin’s price trajectory in the coming weeks.
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