Trump “hot air” blamed as Bitcoin halts price discovery
Data from and showed BTC/USD staying near multiday lows.
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 impact, leading market participants to complain about Trump’s hold over volatility.
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“More hot air from the Manipulator in Chief,” Keith Alan, co-founder of trading resource Material Indicators, wrote in part of a response on X.
Alan nonetheless had good news for Bitcoin bulls, arguing that price had more room to retest support without extinguishing the broader uptrend.
“The MACRO trend line and 2 key Moving Averages on the Bitcoin Daily chart currently have confluence with the Yearly Open,” he , referring to the BTC/USD 2025 opening level at around $93,500.
“As long as BTC is trading above that zone, the Bull trend is still intact.”
BTC/USD 1-day chart. Source: Keith Alan/X
Popular trader Crypto Tony held a similar view, suggesting that even another $4,000 drop from current levels by the weekly close would be acceptable.
/ - Update
A close above $108,000 this week would be perfect, but a close above $104,000 is equally as ok as we clear the resistance zone
— Crypto Tony (@CryptoTony__)
Fellow trader Merlijn eyed a in the form of a new “gap” on CME Group’s Bitcoin futures.
“$BTC just left a fresh CME Gap at $107,230,” he on the day.
“These gaps don’t stay open for long. Expect price to come back and fill it. Eyes on that level.”
BTC/USD 1-hour chart. Source: Merlijn The Trader/X
BTC trading giant Wynn flips short
In a move that quickly caught the attention of market observers, meanwhile, one large-volume trader suddenly flipped short on BTC this weekend.
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As , Hyperliquid trader James Wynn had previously opened a $125 billion long position but began losing money over the Trump volatility.
As noted by research firm Lookonchain, not only had Wynn closed his long but had replaced it with a new short position worth around $110 million.
Top trader has flipped bearish on , switching from long to short.
He opened a short position of 1,038.7 ($111.8M) at $107,711.1 an hour ago, with a liquidation price of $149,100.
— Lookonchain (@lookonchain)
“That's a lot of trading for an illiquid choppy weekend,” trader Daan Crypto Trades while reacting to the switch on X.
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.
