| Trump’s EU Tariff Comments Rattle Markets Bitcoin briefly fell below $107,400 on May 23rd, losing nearly 4% after Donald Trump proposed a 50% tariff on the EU starting June 1st, 2025. The comments triggered a broader market sell-off, with the S&P 500 and Nasdaq also falling. Over $500 million in crypto positions were liquidated within 24 hours, largely due to overleveraged traders. Bitcoin’s key support is near $110,000, and traders warn that failure to hold it could lead to further losses. The broader crypto market remains closely tied to global trade tensions, with more volatility expected.
Bitcoin Surges Past $111K For The First Time Bitcoin surged past $111,000 for the first time on May 21st, gaining over 4% in 24 hours and marking an 18% gain year-to-date. The rally follows a 47% rebound from April lows, driven by geopolitical tension and financial market instability, including a poor U.S. bond auction and falling stock indices. Unlike past rallies led by retail traders, this surge is fueled by institutional investment, with experts citing improved infrastructure and regulation. Despite low retail interest, investor sentiment remains high, with the Crypto Fear & Greed Index at 72 (Greed). Analysts predict further growth, with projections of $160K by Q4 2025 and $1 million by 2030.
Can Solana Hold The Line? Solana is under considerable pressure, trading near $170 and approaching a key support level. A drop below could trigger a slide to $141. The decline is driven by large token unlocks from the FTX bankruptcy, which added $1.7 billion worth of SOL to the market. Despite the bearish short-term outlook, $77M in exchange outflows suggests accumulation by long-term holders. New projects like Solaxy are also adding to long-term optimism. Lastly, meme coin activity is also keeping the network active while simultaneously attracting new users.
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