Key Points:

• Bitcoin continues to drift further from its recent peak as trade tariffs in the U.S. impact market sentiment.

• Some traders suggest that BTC’s price might dip even lower while still being part of a bull market.

• James Wynn, a notable trader, is betting against BTC after previously closing a substantial position worth $1.25 billion.

Bitcoin price movement has struggled to recover from the recent U.S. trade tensions, preventing it from holding the $108,000 mark as of the week ending May 25th.

Comments from President Donald Trump, who has proposed tariffs exceeding 50% on European Union goods, sent ripples through the crypto market, dragging Bitcoin further from its all-time high of $112,000.

The situation has been further complicated by tariffs affecting products from major tech companies, with many in the trading community expressing frustration over Trump’s influence on market stability.

Keith Alan, co-founder of Trading Resource Material Indicator, remarked about the ongoing market turbulence, calling Trump a “Chief Manipulator.” Yet, he’s also optimistic for Bitcoin supporters, indicating there’s still potential for prices to hover within the supportive territory without undermining the general upward trend.

Alan pointed out that together, the Macro Trend Line and Bitcoin Daily Chart’s moving averages are currently merging, suggesting an opening level for 2025 around $93,500. He emphasized that as long as BTC remains above that zone, the bullish momentum persists.

Another trader, Crypto Tony, mirrors this sentiment, interpreting that a further dip of $4,000 could be acceptable before any weekly closures.

Merlijn, another trader, highlighted a recent short-term price gap in the CME group’s Bitcoin futures market, noting that a new gap at $107,230 could draw the price back to that level.

BTC Trading Changes

This past weekend, market watchers noted a significant shift as James Wynn took a short position on BTC. Previously, he had a long position valued at $125 billion but now appears to be losing ground amidst unpredictable market conditions.

Research firm LookonChain revealed that not only did Wynn close his long position, but he simultaneously opened a new short worth $110 million.

In response to this trading move, another trader, Dern Crypto Trade, commented on the turbulent trading conditions observed over the weekend.

This article does not offer investment advice. All trading and investment activities encompass risks, and readers are encouraged to conduct their own due diligence.