$BTC
Bitcoin Dips 2.55% Amid Geopolitical and Technical Pressures
Bitcoin (BTC) recently fell 2.55% in 24 hours, retreating to around $107K. Key factors behind the decline include:
1. Geopolitical Tensions: U.S. President Donald Trump’s announcement of 50% tariffs on EU imports reignited global trade concerns, mirroring April’s 6.5% BTC drop during similar tariff disputes.
2. Technical Resistance: BTC struggled to breach the $110K level, facing resistance near the Fibonacci 127.2% target ($117,485). The RS114 momentum indicator also dipped to 63.3, signaling weakening bullish momentum.
3. Market-Wide Liquidations: Approximately $544 million in long positions were liquidated between $106K–$109K, exacerbating downward pressure.
The broader crypto market saw risk-off sentiment, with Ethereum (ETH) and Shiba Inu (SHIB) dropping 4.3% and 3.5%, respectively. BTC’s market dominance edged down slightly (63.15% to 63.13%) as capital shifted to cash and treasuries.
Despite recent headwinds—geopolitics, technical exhaustion, and liquidations—BTC remains up 16.83% over the past month. Institutional investors (204 entities currently holding BTC) could provide stabilization, though their impact remains uncertain.
Data sourced via CoinMarketCap’s CMC AI. Follow updates:
