Bitcoin$BTC has rebounded above $104,300 following a sharp decline triggered by U.S. tariff announcements, which led to nearly $1 billion in liquidations across the cryptocurrency market.
The recent volatility was initiated by geopolitical tensions and U.S. trade policy uncertainties, causing Bitcoin $BTC to drop from $105,875 to a low of $103,156—a 2.57% decrease. This downturn resulted in significant liquidations, particularly affecting overleveraged positions.
Despite the initial drop, Bitcoin's price stabilized and rebounded, supported by strong trading volumes near $103,000 and renewed institutional interest. The recovery was marked by a surge from $104,146 to $104,303 within an hour, with 429 BTC$BTC traded, indicating bullish momentum.
Concurrently, U.S. spot Bitcoin ETFs experienced significant outflows, with $616 million withdrawn on May 30, including $430.8 million from BlackRock’s iShares Bitcoin Trust. This marked the end of a 31-day inflow streak and suggests a shift in investor sentiment amid market volatility.
Overall, while Bitcoin faced a brief setback due to macroeconomic factors, its swift recovery above $104,300 demonstrates resilience and continued investor confidence in the cryptocurrency market.
