Bitcoin price levels to watch as Trump delays EU tariffs
Key points:
US President Donald Trump has extended the deadline of a proposed 50% tariff on EU goods to July 9.
A temporary easing in trade tensions could help fuel Bitcoin’s rally to new all-time highs.
Bitcoin’s () price climbed back above $109,000 during the late trading hours on May 25, as traders responded to President Donald Trump’s decision to delay the implementation of tariffs on EU goods until July 9.
Data from and revealed that BTC rose by as much as 3.2% to an intraday high of $110,100 on May 26 from a low of $106,660 on May 25.
BTC/USD daily chart. Source: Cointelegraph/
Trump extends EU tariff deadline
Bitcoin’s recovery above $109,000 followed Trump’s decision to delay a proposed 50% tariff on European Union goods, easing trade tensions and fueling renewed optimism across risk assets.
Source: Donald Trump
This decision came after a call with European Commission President Ursula von der Leyen, who that the EU needed until July 9 to “reach a good deal” with the United States.
Good call with .
The EU and US share the world’s most consequential and close trade relationship.
Europe is ready to advance talks swiftly and decisively.
To reach a good deal, we would need the time until July 9.
— Ursula von der Leyen (@vonderleyen)
Trump had initially on most EU imports in April, later reducing it to 10% to allow time for talks.
On May 23, he threatened to raise tariffs to 50% by June, causing , reflecting market sensitivity to trade tensions.
Market participants said the extension placed Bitcoin back on track to continue its uptrend.
“Bitcoin will pump again,” pseudonymous BTC investor Random Crypto Pal in response to the news.
“Bitcoin is gaining momentum because of Europe tariffs delays (July 9),” said fellow Kevin T, adding:
“I hope they settle everything and let the market go super bullish.”
BTC price headed for an 8-week win streak
BTC’s close above $109,000 on May 25 was the seventh consecutive bullish weekly close, as shown in the chart below.
If Bitcoin continues to maintain its upward trajectory, it is likely to close green for the eighth consecutive week on June 1.
BTC/USD weekly close. Source: Cointelegraph/
Historically, such a scenario has preceded six to 12 months of positive price action.
“Since 2014, an 8-week streak of green weekly closes has occurred only three times,” crypto analyst and trader Carpe Noctom in a May 26 post on X, adding:
“Following eight consecutive positive weekly closes, the market has historically been negative one week later, but has always been positive 6 months and 1 year later.”
BTC performance following eight straight bullish closes/ Source:
If history repeats itself, BTC could continue rising this week, then drop or consolidate next week to retest key support levels before for the rest of the year.
Related:
Key Bitcoin price levels to watch
Bitcoin must flip the a into support to continue its price discovery.
As Cointelegraph , BTC price could rally to fresh record highs of $130,000 if the bulls push above the $109,588 to $111,980 overhead resistance zone, BTC/USD must hold above the weekly close at $109,0 for this to happen00. Below that is a major demand zone from $104,500 to $106,000.
Other levels to watch on the downside are the daily support at $102,500, which supported the price between May 9 and May 19, and the psychological level at $100,000.
Bitcoin daily chart. Source: Cointelegraph/
Trader Micky Bull it was “very critical” for the BTC/USD pair to close the day above the previous reached on Jan. 20.
MN Capital founder Michael van de Poppe pointed out that if Bitcoin continued “holding on to the point of interest” between $105,500 and $107,000, it could see fresh all-time highs over the next few days.
“On to $125,000 into June.”
BTC/USD four-hour chart. Source:
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
