The price of bitcoin remained flexible above $ 111,500 on Friday, 23 May, adding to the ETF inflow and threatening to impose a fresh tariff to Trump on the European Union (EU).
Bitcoin (BTC) buyers placed the firm at $ 108k as Trump slaps 50% tariffs on the European Union
According to COINGECKO data, Bitcoin rose to the $ 111,800 Intrade high on Thursday before consolidating near $ 111,500 on Thursday.
Rally came immediately after US President Donald Trump’s true social post Announcement of a proposed 50% tariff On all goods imported from the European Union (EU) starting from June 1, 2025.
Trump implicated the “unjust cases, business obstacles, and monetary manipulations” as a vengeance against the label.
“It is very difficult to deal with the European Union, which was formed for the primary purpose for the primary purpose of taking advantage of the United States on trade. Their powerful trade obstacles have led the trade deficit with the US over $ 250,000,000 per year, a number that is completely unacceptable. Therefore, I am starting on 1 June 2025.”
– US President Donald Trump said Truth On Friday.
The timing of the post strengthened the role of bitcoin as a geophysical hedge. Instead of trying to take advantage after recent benefits, bull traders grabbed their grounds.
The BTC price for a better part of Friday was consolidated above $ 111,500 for a better part of Friday before a dip at $ 108,400 at the time of publication.
More than this, at the press time on Friday, the daily volume of bitcoin has crossed $ 75 billion for the first time in two weeks, indicating aggressive purchase-side partnership.
As global investors brace for a potential business war, the flexibility of bitcoin’s $ 110,000 suggests that it is becoming a favorite safe-heaven option for fiat-sect assets, especially investor trust deteriorates in the United States and both European Union Traditional market.
Blackrock’s ibit is invited $ 934m bitcoin etf between institutional rotation
The institutional demand for bitcoins intensified on Thursday as the US spot bitcoin ETFS posted a record of $ 934.8 million in the net flow. This represents the largest single-day flow as American Securities and Exchange Commission approved bitcoin derivatives for trade in US regulated public markets in January 2024.
As Ferrocide dataBlackrock’s Ishras Bitcoin Trust (Ibit) led the charge with $ 877.2 million inflow, which was an accounting for about 90% of the total BTC ETF deposits a day.
In particular, other major ETF issuers remained flats or posted negligible activity, including Grassscale, Vulkari, Franklin and Vanoc.
Given the dominance of Blackrock within the sector, other US ETFs may increase strategic demand among the issuers, who were sitting out of the latest procure
Aligning with the threats of Trump’s tariffs on the US, the demand for the latest $ 877 million bitcoin from Blackrock’s IBIT ETF which trades in both the US and the European Union, reacts rapidly to the growing trade tension and corporate rotation in both sectors, which are prepared to cut the boundary of the tox.
As the funds appear to be moving in bitcoins for institutional investor diversification, and mitigation against the dollar debut, the BTC price look is set in the next days for another leg-up.
What’s next for the price of bitcoin?
After establishing a firm support base around $ 110,000, Bitcoin’s technical approach lies near the next psychological target $ 120,000. Under further pressure of the bulls, $ 111,800 refuses to take profits even after a strong rejection near the signal.
More than that, the 24-hour of bitcoin’s 24-hour trading volume crossed the $ 75 billion mark on Thursday, dating back on May 7 in 14 days, indicating an on-set of catalysts to another upwards.
Trump’s tariff declaration may trigger uncertainty in both the European Union and the US sovereign bond markets. As investors are facing instability and weak demand, bitcoin may benefit from flight-safety rotation.
In the short term, BTC’s ability to keep above $ 110,000 will be closely seen by traders. A breakout above $ 112,000 can accelerate profit towards $ 118,000- $ 120,000 resistance band.
Bitcoin value forecast today: Pulback after $ 112K peak can prime BTC for $ 120K target
The price of bitcoin declined by 3.13% to $ 108,200 in today’s session, which retreated from Intrade high of $ 111,800. Despite the pullback, the technical pace remains upside down.
Short-Term 9-De Moving Average Green is firmly running over the 21-day moving average, confirming a rapid crossover since the beginning of May that historically occurs before the price expansion.
Short BTC Price The reform seen on the daily candle seems to be a healthy consolidation after an aggressive rally from $ 100K levels, with support near $ 106,500, the 9/21 mA convergence area is likely to serve as a possible re-entry point.
Bitcoin value forecast today The structure remains faster, as the MACD still shows a positive bias. The MACD line at 4,117 sits comfortably above the signal line at 3,927 despite a modest curve arrivals.
Importantly, the histogram bars are still printed above zero, indicating that the pressure upwards remain. As long as the BTC value remains above the MA support area and the MACD remains in the positive area, the major trend remains upwards.
If the BTC rebules $ 111,000 on a strong volume, a rapid breakout may begin again. From an 112,000 dollars to $ 118,000 to $ 120,000 confirmed above $ 112,000, which aligns with Fibonacci extension goals and pre -resistance groups.
On the other hand, the failure to keep $ 106,500 can trigger a deep improvement towards $ 103,000, where 21-day MA provides significant tendency support.
Frequently asked questions (FAQs)
Bitcoin rose on a new Ath above $ 111,800 on Friday as investors reacted to Trump’s proposed 50% tariff on the European Union (EU).
Strong ETF flow, especially from Blacrock’s $ 877m Ibit deposits, combined with the fears of business war, holding BTC firmly above $ 111,500.
If the BTC breaks the $ 112,000 resistance, it can rally $ 118,000- $ 120,000 in fuel by institutional demand and Macro catalyst.
Coyingop Staff
Coingape includes an experienced team of indigenous material writers and editors, who are working in a clock time to cover news globally and present news as a fact rather than an opinion. CoingPele writers and reporters contributed to this article.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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