Bitcoin price levels to watch as Trump delays EU tariffs

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Bitcoin’s (BTC) worth climbed again above $109,000 throughout the late buying and selling hours on Could 25, as merchants responded to President Donald Trump’s determination to delay the implementation of tariffs on EU items till July 9.

Information from Cointelegraph Markets Pro and TradingView revealed that BTC rose by as a lot as 3.2% to an intraday excessive of $110,100 on Could 26 from a low of $106,660 on Could 25. 

BTC/USD day by day chart. Supply: Cointelegraph/TradingView

Trump extends EU tariff deadline

Bitcoin’s restoration above $109,000 adopted Trump’s determination to delay a proposed 50% tariff on European Union items, easing commerce tensions and fueling renewed optimism throughout threat belongings.

Supply: Donald Trump

This determination got here after a name with European Fee President Ursula von der Leyen, who said that the EU wanted till July 9 to “attain a very good deal” with the US.

Trump had initially proposed a 20% tariff on most EU imports in April, later decreasing it to 10% to permit time for talks. 

On Could 23, he threatened to lift tariffs to 50% by June, inflicting Bitcoin to dip below $108,000, reflecting market sensitivity to commerce tensions. 

Market members mentioned the extension positioned Bitcoin again on monitor to proceed its uptrend.

“Bitcoin will pump once more,” said pseudonymous BTC investor Random Crypto Pal in response to the information. 

“Bitcoin is gaining momentum due to Europe tariffs delays (July 9),” mentioned fellow Kevin T, including:

“I hope they settle every thing and let the market go tremendous bullish.”

BTC worth headed for an 8-week win streak

BTC’s shut above $109,000 on Could 25 was the seventh consecutive bullish weekly shut, as proven within the chart under.

If Bitcoin continues to take care of its upward trajectory, it’s prone to shut inexperienced for the eighth consecutive week on June 1.

BTC/USD weekly shut. Supply: Cointelegraph/TradingView

Traditionally, such a state of affairs has preceded six to 12 months of constructive worth motion.

“Since 2014, an 8-week streak of inexperienced weekly closes has occurred solely 3 times,” said crypto analyst and dealer Carpe Noctom in a Could 26 put up on X, including: 

“Following eight consecutive constructive weekly closes, the market has traditionally been damaging one week later, however has at all times been constructive 6 months and 1 12 months later.”

BTC efficiency following eight straight bullish closes/ Supply: Carpe Noctom

If historical past repeats itself, BTC may proceed rising this week, then drop or consolidate subsequent week to retest key assist ranges earlier than entering a parabolic phase for the remainder of the 12 months.

Associated: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24

Key Bitcoin worth ranges to observe

Bitcoin should flip the all-time high at $111,900 into assist to proceed its worth discovery.

As Cointelegraph reported, BTC worth may rally to contemporary file highs of $130,000 if the bulls push above the $109,588 to $111,980 overhead resistance zone, BTC/USD should maintain above the weekly shut at $109,0 for this to happen00. Under that may be a main demand zone from $104,500 to $106,000.

Different ranges to observe on the draw back are the day by day assist at $102,500, which supported the worth between Could 9 and Could 19, and the psychological degree at $100,000.

Bitcoin day by day chart. Supply: Cointelegraph/TradingView

Dealer Micky Bull said it was “very essential” for the BTC/USD pair to shut the day above the earlier all-time high of $109,000 reached on Jan. 20.

MN Capital founder Michael van de Poppe identified that if Bitcoin continued “holding on to the focus” between $105,500 and $107,000, it may see contemporary all-time highs over the following few days.

“On to $125,000 into June.”

BTC/USD four-hour chart. Supply: Michael van de Poppe

This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.