Join Our Telegram channel to stay up to date on breaking news coverage
The Bitcoin price slid 3% in the last 24 hours to trade at $107,799 11:04 p.m. EST on a 2.5% jump in trading volume to $48 billion.
This dip came after President Donald Trump alarmed markets by threatening to impose tariffs on iPhones and the European Union (EU). Trump warned of a 50% tariff on the EU starting June 1, and 25% tariffs on Apple iPhones not made in the US. He later widened that threat to any smartphone.
U.S President Donald Trump, announces 50% Tariff on EU, starting on 1st June.
Donald Trump threatens EU with 50% tariffs – as Apple faces 25% unless iPhones are made in US.
President Trump announces 50% tariffs on the EU
The EU fucked around and found out. pic.twitter.com/H9VXxz9Ool
— sumit 🇮🇳 (@sumit45678901) May 23, 2025
The twin threats, delivered via social media, shook up the markets after over a month of de-escalation had boosted the outlook. Apple Inc stock dropped 3% to $195.27.
Bitcoin Price Risks 3% Extended Drop To $104,315
The 12-hour chart for BTC/USDT shows Bitcoin peaking at a high of $111,917 before the slide to $107,734. The chart also has some key levels marked: support around $104,315 and resistance up at $111,917. If BTC price can’t hold that support, we might see it test $102,235, which would be a bummer for the bulls.
After rising 12.63% from $102,235 to nearly $112,000, Bitcoin has pulled back by about 2.9% and is now testing support at the $108,241 level, which used to be a resistance area. If the price keeps dropping, the next possible support levels are at $107,094, $105,947, and $104,315, where buyers might step in again.
The Relative Strength Index (RSI) is at 58.51, which is neutral (not overbought or oversold), so no major panic yet. But the Moving Average Convergence Divergence (MACD) is showing a bearish crossover, hinting at more downward pressure.
BTCUSDT Analysis Source: Tradingview
The 50-period moving average on the 12-hour chart is around $101,731, close to the key support level of $102,235. This makes it a strong support area. The 200-period moving average is much lower at $90,865, showing that Bitcoin is still in a longer-term uptrend.
Traders are keeping an eye on the $111,953 level as the next big resistance. If Bitcoin breaks above it, the next targets are $114,577 and $117,959, which could mean an 8–10% price increase.
If Trump’s tariff drama escalates, we might see BTC dip to that $104,315 support, or lower if the bears take over. This dip might be a chance for investors to stack some Sats. But for traders, that $104,315 is a key level to watch. Bitcoin’s got the potential to bounce back, but Trump’s tariff threats could keep the vibes bearish for now.
BTC Bull Token Presale Passes $6.2M – Next Crypto To Explode?
As the Bitcoin price slides, investors keep socking funds into the BTC Bull Token (BTCBULL) presale, which has surged past $6.2 million in funding.
BTC Bull Token isn’t just another meme coin that’s riding on Bitcoin’s coattails. It’s built to reward holders directly as Bitcoin climbs to new all-time highs.
The idea is simple but clever: starting at $150k, BTCBULL will airdrop BTC to token holders for free, and repeat that exercise for every subsequent $50k increase in the BTC price.
America runs on BTC now. 🐂🇺🇲 pic.twitter.com/jgdTlOqJxJ
— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 23, 2025
BTCBULL also has a deflationary mechanism, with token burns starting at $125,000 and also repeating with every $50k rise in the BTC price thereafter.
Investors can also stake BTCBULL tokens for a huge 66% annual return.
YouTube channel 99Bitcoins, which boasts over $723K subscribers, predicts 10X gains for the meme coin after launch.
BTCBTULL tokens are priced at $0.002525 right now and can be bought with ETH, USDT, or a bank card.
Interested investors should hurry because the price will increase in about 1 hour.
Visit BTC Bull Token to learn more.
Related Articles:
- Sui Network Rocked As Cetus Protocol Loses $223M In Massive Hack
- New Cryptocurrency Releases, Listings, & Presales Today
- Hyperliquid Price Pumps 17% As Crypto Wallet ICO Head For $13M
Best Wallet - Diversify Your Crypto Portfolio
- Easy to Use, Feature-Driven Crypto Wallet
- Get Early Access to Upcoming Token ICOs
- Multi-Chain, Multi-Wallet, Non-Custodial
- Now On App Store, Google Play
- Stake To Earn Native Token $BEST
- 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
