Bitcoin price drops 4% as Trump EU tariff talk liquidates over $300M

7 hours ago

Key points:

Bitcoin joins hazard assets successful a knee-jerk absorption to the latest instalment of the US commercialized war, this clip focused connected the EU.
BTC terms enactment dives up to 4% earlier recovering with $110,000 present a absorption level.
Traders request that terms holds higher levels going guardant to support bullish momentum.

Bitcoin (BTC) saw flash volatility into the May 23 Wall Street unfastened arsenic quality headlines liquidated longs.

Bitcoin trips arsenic Trump says EU talks “going nowhere”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $107,367 connected Bitstamp earlier rebounding.

This marked regular losses of up to 4% arsenic markets reacted to comments from US President Donald Trump implicit tariffs connected the European Union.

“Our discussions with them are going nowhere!” Trump wrote successful a station connected Truth Social.

“Therefore, I americium recommending a consecutive 50% Tariff connected the European Union, starting connected June 1, 2025.”

US stocks reacted instantly astatine the open, with the S&P 500 and Nasdaq Composite Index down 1% and 1.2%, respectively, astatine the clip of writing.

Reflecting connected the latest developments, crypto marketplace participants were unsurprised, fixed the existing precedent for tariff-related volatility.

“Nice aggregate flush of agelong leverage & de-risk selling from spot,” fashionable trader Skew summarized successful a station connected X.

“All driven by headlines erstwhile again.”

Data from monitoring assets CoinGlass enactment 4-hour liquidations astatine astir $350 million, with the 24-hour tally astatine implicit $500 million.

“There's the interruption from the compression with a propulsion from Trump. Markets worldwide evidently not liking the news,” chap trader Daan Crypto Trades continued.

“Will person to spot wherever this settles contiguous and however BTC ends up performing comparative to equities present the commercialized uncertainty is back.”

Commenting connected the macro outlook, trading assets The Kobeissi Letter suggested that the Trump medication was caught betwixt a stone and a hard place.

“We person present learned: Too overmuch tariff unit causes the ground commercialized to unwind. Too small tariff unit causes ostentation expectations to rise,” it wrote successful portion of an X response.

“Now, President Trump indispensable find a mediate crushed to support tariffs but besides suppress treasury yields WITHOUT Fed cuts.”

Kobeissi referred to the Federal Reserve’s unwillingness to hasted involvement complaint cuts contempt declining ostentation — a cardinal constituent successful further risk-asset upside.

Elsewhere, traders eyed cardinal BTC terms levels to sphere going guardant arsenic the marketplace sought a rebound.

“We request to clasp the greenish zone,” trader Crypto Caesar argued alongside a illustration showing an country of involvement instantly beneath $110,000.

Another trader, Poseidon, acknowledged the comparative deficiency of absorption supra spot price, keeping the doorway unfastened to casual upside.

Don’t forget: supra here, it’s thing but bladed air. No absorption successful sight.$BTC pic.twitter.com/ugQEGQIcpD

— Poseidon (@CryptoPoseidonn) May 23, 2025

“Front ran $110K tag,” Skew continued alongside a illustration of bid publication liquidity concentrations.

“Important level from present for the marketplace to auction supra (key for continuation).”

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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