Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU.
\nBTC price action dives up to 4% before recovering with $110,000 now a resistance level.
\nTraders demand that price holds higher levels going forward to protect bullish momentum.<\/p>\n
Bitcoin (BTC) saw flash volatility into the May 23 Wall Street open as news headlines liquidated longs.
\nBTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView
\nBitcoin trips as Trump says EU talks \u201cgoing nowhere\u201d
\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD hitting lows of $107,367 on Bitstamp before rebounding.
\nThis marked daily losses of up to 4% as markets reacted to comments from US President Donald Trump over tariffs on the European Union.
\n\u201cOur discussions with them are going nowhere!\u201d Trump wrote in a post on Truth Social.\u00a0
\n\u201cTherefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.\u201d
\nSource: Truth SocialUS stocks reacted immediately at the open, with the S&P 500 and Nasdaq Composite Index down 1% and 1.2%, respectively, at the time of writing.
\nReflecting on the latest developments, crypto market participants were unsurprised, given the existing precedent for tariff-related volatility.
\n\u201cNice aggregate flush of long leverage & de-risk selling from spot,\u201d popular trader Skew summarized in a post on X.
\n\u201cAll driven by headlines once again.\u201d
\nBinance Bitcoin futures market data overview. Source: Skew\/XData from monitoring resource CoinGlass put 4-hour liquidations at nearly $350 million, with the 24-hour tally at over $500 million.
\nTotal crypto liquidations (screenshot). Source: CoinGlass\u201cThere’s the break from the compression with a push from Trump. Markets worldwide obviously not liking the news,\u201d fellow trader Daan Crypto Trades continued.\u00a0
\n\u201cWill have to see where this settles today and how BTC ends up performing relative to equities now the trade uncertainty is back.\u201d
\nBTC\/USDT 15-minute chart. Source: Daan Crypto Trades\/XCommenting on the macro outlook, trading resource The Kobeissi Letter suggested that the Trump administration was caught between a rock and a hard place.
\n\u201cWe have now learned: Too much tariff pressure causes the basis trade to unwind. Too little tariff pressure causes inflation expectations to rise,\u201d it wrote in part of an X response.\u00a0
\n\u201cNow, President Trump must find a middle ground to maintain tariffs but also suppress treasury yields WITHOUT Fed cuts.\u201d
\nKobeissi referred to the Federal Reserve\u2019s unwillingness to hasted interest rate cuts despite declining inflation \u2014 a key ingredient in further risk-asset upside.
\nRelated:\u00a0Bitcoin buyer dominance at $111K suggests ‘another wave’ of gains
\nElsewhere, traders eyed key BTC price levels to preserve going forward as the market sought a rebound.
\n\u201cWe need to hold the green zone,\u201d trader Crypto Caesar argued alongside a chart showing an area of interest immediately below $110,000.
\nBTC\/USDT 4-hour chart. Source: Crypto Caesar\/XAnother trader, Poseidon, acknowledged the comparative lack of resistance above spot price, keeping the door open to easy upside.<\/p>\n
Don\u2019t forget: above here, it\u2019s nothing but thin air. No resistance in sight.$BTC pic.twitter.com\/ugQEGQIcpD\u2014 Poseidon (@CryptoPoseidonn) May 23, 2025<\/p>\n
\u201cFront ran $110K tag,\u201d Skew continued alongside a chart of order book liquidity concentrations. Source: Cointelegraph.com NewsKey points: Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU. BTC price action… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129887"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129887"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129887\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129887"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cImportant level from here for the market to auction above (key for continuation).\u201d
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"