Bitcoin plummets $5000 to $107,809! 50% EU tariff threat sparks panic, altcoins crash!
News Flash:
$BTC current price $107,809, down 3.7% in 24h, trading volume surges to $5.56 billion, market cap $2.13 trillion! Trump posted on May 23 threatening a 50% tariff on EU products starting June 1, market FOMO sentiment was doused with cold water, $BTC plunged sharply from a high of $111,866, altcoins collectively crashed, hot debate on 'Is the bull market over or is the whale taking the opportunity to wash the market?'
Why the crash?
Trump's tariff bomb: Trump posted, angrily criticizing the EU's trade barriers causing a $250 billion annual loss to the US, threatening to impose a 50% tariff on EU products starting June 1. The market fears an escalation of the global trade war, leading to a sell-off of risk assets, $BTC fell directly by $5000.
Altcoins crash: Altcoins have weak liquidity, $ETH dropped to $2550, meme coins fared even worse, with declines exceeding 10%. Funds are flowing back to safe-haven assets, putting pressure on altcoins.
Technical indicators turn bearish: $BTC fell below the upper Bollinger band ($110,000), MACD shows a death cross, RSI slid from 68 to 52, panic sentiment dominates. Many altcoins' RSI fell below 50, intensifying selling pressure.
Dumping risk: On-chain data shows that the outflow of $BTC from exchanges is slowing, whales have not been seen making large-scale sales, but if it falls below $105,000, it may test $100,000. The risk of a pullback is greater for altcoins due to high leverage trading.
Upside potential: If $BTC stabilizes at $107,000, it could rebound to $110,000-$112,000 in the short term. Expectations for interest rate cuts in Q3 may help
reignite the bull market, with a year-end target of $120,000. Altcoins need capital rotation, $SOL, $ETH could rebound by 10-15%.
Key observations: ETF net inflow ($7 billion recently), on-chain holding trends, news on the trade war.
How to read the candlestick chart?
$BTC dropped to the middle Bollinger band ($107,000), MACD shows a death cross, RSI at 52 is weak. Support at $105,000, resistance at $110,000. Short-term oscillation is biased bearish, warning of 'trade war panic or continued pressure'!
Focus on trade war and ETF data, avoid chasing highs! The 2025 bull market is not over, waiting for a rebound!
Follow for daily updates, hot news, and profitable codes!
Want to join the group! Type 1~
