- Crypto Market analysts observe that Bitcoin demonstrated strong resilience by bouncing back from the $106,500 support level. This recovery indicates sustained investor confidence, even amid rising geopolitical tensions tied to US European trade tariffs
- The recent macroeconomic concerns surrounding potential trade tariffs between the US and Europe briefly disrupted Bitcoin’s upward trajectory. However, the quick rebound highlights Bitcoin’s ability to absorb external shocks and maintain its bullish outlook.
- The retest of $106,500 attracted renewed buying interest, suggesting that investors view dips as strategic entry points. This accumulation behavior reinforces Bitcoin’s bullish fundamentals, despite macro driven short term volatility.
Crypto Bitcoins Fairing Today
Bitcoin (BTC), which touched a new alltime high ($111,970) during the previous week, seems to be in consolidation mode. The leading cryptocurrency, almost after four months of consolidation, hit a new high on May 22 due to rising institutional adoption, positive regulatory changes in the US, and reviving corporate interest. Bitcoin has yet to maintain prices close to its peak and has fallen below $110,000, mainly because of profit booking at higher levels.
At 10:40 AM on Monday, May 26, Bitcoin was traded at about $109,511.38, 1.19 per cent higher. The globe’s favorite cryptocurrency recorded a 24 hour trade volume of $47.05 billion. Bitcoin’s market capitalisation was $2.17 trillion, the largest of any cryptocurrency. It has ranged between $106,683.37 and $109,854.53 over the past 24 hours, based on data provided by CoinMarketCap.
Market commentators opine that Bitcoin has bounced back after macroeconomic worries regarding US European trade tariffs caused it to retest support at levels of $106,500.
Bitcoin, Mudrex Co founder and CEO Edul Patel opines, is once again on a recovery path, trading at over $109,300 after seeing a brief test of the $106,600 level, in the wake of US President Trump’s 50 per cent tariff proposal on EU imports. “The sharp bounce is testament to BTC’s strength, underpinned by an 80 per cent decline in daily exchange inflows to merely 22,000 BTC, reflecting diminished selling intent. If positive momentum prevails, a breakout above $110,000 appears likely,” Patel added.
That being said, with geopolitical events likely to impact sentiment, Bitcoin’s solid fundamentals and shrinking sell side volume, Patel averred, set it up for additional upside, with $105,000 now validating as a solid support area.
On the other hand, Vikram Subburaj, the CEO of Giottus Crypto Platform, is anticipating volatility for today’s session with a clear direction settling after Tuesday. “Bitcoin’s market structure is still strong, supported by robust ETF inflows during last week. Provided that the asset remains above $105,000, continuation of the rally is the probable case,” stated Subburaj.
Ethereum And Other Altcoins
At the same time, Ethereum (ETH), which is the second largest cryptocurrency in terms of market capitalisation in the world, also reflected similar trends. Although it has dipped below the $2,700 level, it remains above $2,500. As of last check, Ethereum was trading at approximately $2,566.83, up 2.13 per cent.
Among other widely used cryptocurrencies, Cardano (ADA) was trading higher by 2.71 per cent, Solana (SOL) by 2 per cent, Binance Coin (BNB) by 1.01 per cent, and Ripple (XRP) by 0.91 per cent. At the same time, US dollar backed stablecoin Tether was trading at $1, increasing by 0.01 per cent.
Also read : Bitcoin Price Struggles To Hit Above $110K
