Bitcoin Rebounds Above $104,300 as Tariff Chaos Triggers Nearly $1B in Liquidations
Global economic tensions and trade policy uncertainties continue to influence cryptocurrency markets as Bitcoin recovers from a recent correction.
Despite the pullback, institutional interest remains strong with firms like Strategy (formerly MicroStrategy) and GameStop adding BTC to their corporate treasuries.
Technical Analysis Highlights
- The 24-hour period shows a clear bottoming pattern with strong volume support emerging around the $103,200-$103,400 zone, where buyers consistently stepped in, according to CoinDesk Research’s technical analysis data model.
- The subsequent recovery phase gained momentum after breaking above the $104,000 resistance level, with increasing volume confirming buyer conviction.
- This technical structure suggests the correction has likely completed, with the price now establishing a new support base for potential continuation of the broader uptrend.
- In the last hour, Bitcoin demonstrated a notable recovery pattern, climbing from $104,146 to $104,303, with significant bullish momentum emerging at 14:01.
- Price surged from $104,188 to $104,323 on substantially higher volume (429 BTC traded).
- The price action formed a clear consolidation range between $104,077 and $104,263 before the breakout, with key support established around $104,080-$104,090.
External References
- “Bitcoin Price Extends Losses — Is More Downside on the Horizon?”, NewsBTC, published May 30, 2025.
- “Bitcoin at Risk of Breakdown if Major Support Level Fails, Says Trader Justin Bennett – Here Are His Targets”, The Daily Hodl, published May 30, 2025.
- “Bitcoin price prediction 2025-2031: Will BTC hit $150k soon?”, Cryptopolitan, published May 31, 2025.
