Key points:
Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU.
BTC price action dives up to 4% before recovering with $110,000 now a resistance level.
Traders demand that price holds higher levels going forward to protect bullish momentum.
Bitcoin (BTC) saw flash volatility into the May 23 Wall Street open as news headlines liquidated longs.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin trips as Trump says EU talks “going nowhere”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $107,367 on Bitstamp before rebounding.
This marked daily losses of up to 4% as markets reacted to comments from US President Donald Trump over tariffs on the European Union.
“Our discussions with them are going nowhere!” Trump wrote in a post on Truth Social.
“Therefore, I am recommending a straight 50%