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Yet again, Trump has walked back on his tariffs that he just announced. Less than 72 hours ago, Trump posted on Truth Social that he is recommending a 50% tariff on the European Union set to begin on June 1. Halting all momentum the bulls had, Bitcoin was on the brink of setting another all time high before undergoing a near 5% pullback and altcoins drew down even more so.
This morning Trump has just announced a pause on these exact tariffs, claiming the President of the European Commission contacted him and request an extension of deadline, and Trump agreed, a pause until July 9, giving both parties time to negotiate.
Bitcoin immediately jumped 1.60% on the news, providing the bulls with some relief after negative impact of the initial tariff announcement. This sentiment was shared across risk on markets, with both S&P500 and Nasdaq futures up 0.78% and 1.01% respectively within the hour of the tariff pause. The weekend saw sentiment start to shift back to the extreme greed territory, going from 66 following Trump’s initial tariff announcement to 73 and just two points away from extreme greed.
Despite the pullback as a result of the tariffs, Bitcoin has just closed its seventh consecutive positive week, the longest streak since November 2023 which was eight straight weeks of positive price action. This slight pullback should be welcomed and expected, event after all this price action, Bitcoin is knocking on the door of $110k once again, showing the display of strength of Bitcoin.
Stormrake Spotlight: Bittensor (TAO) ($439)
Stormrake Spotlight: Bittensor (TAO) ($439)
After sliding 10% on the back of the initial EU tariff news, TAO has rebounded over 5% since Friday’s close. It’s currently holding the 21 EMA as support and attempting to reclaim the key CPR level at $440. If bulls succeed in pushing through, another test of the $490 recent high could be on the cards.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has bounced alongside Trump's tariff pause, recovering from the lows and possibly shifting structure back in favour of the bulls. BTC is now sitting at a critical resistance level—the previous all-time high and the monthly CPR. To reclaim full bullish control, it needs a sustained move above $109.6K. A rejection at this level would likely see price revisit immediate support near $107K.
BTC Total ETF Flows for 25 May: (data not available at the time of writing)
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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