Key points:
Bitcoin is heading further away from its latest all-time highs as US trade tariffs dictate the mood.
Traders are unfazed, arguing that BTC price action can retest even lower levels while maintaining its bull run.
Hyperliquid trader James Wynn goes short BTC after closing a long worth $1.25 billion.
Bitcoin (BTC) failed to maintain $108,000 into the May 25 weekly close as price action struggled to shake off new US trade war woes.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Trump “hot air” blamed as Bitcoin halts price discovery
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying near multiday lows.
After snap losses accompanied comments by US President Donald Trump over 50% tariffs on goods from the EU, crypto immediately felt the heat, and $112,000 remained Bitcoin’s latest all-time high.
Further episodes, this time involving goods from specific tech giants, continued the