Key points:
Bitcoin is drifting further from its latest all-time highs, thanks to US trade tariffs and a dash of presidential hot air.
Traders, ever the optimists, insist that BTC can retest even lower levels while still maintaining its bullish charm.
Hyperliquid trader James Wynn, sensing the winds of change, goes short on BTC after closing a long worth $1.25 billion.
Bitcoin (BTC) couldn’t hold onto its $108,000 perch as the weekly close on May 25 was marred by fresh US trade war tensions. The market, it seems, is as predictable as a politician’s promise.
Trump’s “Hot Air” Blamed as Bitcoin Halts Price Discovery 🌬️
Data from CryptoMoon Markets Pro and TradingView showed BTC/USD lingering near multiday lows, a testament to the market’s fickle nature.
After President Donald Trump’s fiery comments about 50% tariffs on EU goods, the crypto market felt the heat. Bitcoin’s latest all-time high of $112,000 now seems like a distant memory.
Further tariff threats, this time targeting tech giants, only added to the market’s woes, leading traders to grumble about Trump’s grip on volatility.
“More hot air from the Manipulator in Chief,” Keith Alan, co-founder of trading resource Material Indicators, quipped on X. Despite the gloom, Alan had a silver lining for Bitcoin bulls.
“The MACRO trend line and 2 key Moving Averages on the Bitcoin Daily chart currently have confluence with the Yearly Open,” he noted, 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.”
Popular trader Crypto Tony shared a similar sentiment, suggesting that even a $4,000 drop from current levels by the weekly close would be manageable.
$BTC / $USD – Update
A close above $108,000 this week would be perfect, but a close above $104,000 is equally as ok as we clear the resistance zone
— Crypto Tony (@CryptoTony__) May 25, 2025
Fellow trader Merlijn pointed out a classic short-term BTC price magnet in the form of a new “gap” on CME Group’s Bitcoin futures.
“$BTC just left a fresh CME Gap at $107,230,” he noted. “These gaps don’t stay open for long. Expect price to come back and fill it. Eyes on that level.”
BTC Trading Giant Wynn Flips Short 🐻
In a move that caught the market’s attention, one large-volume trader suddenly flipped short on BTC this weekend. Hyperliquid trader James Wynn, who had previously opened a $125 billion long position, began losing money due to Trump’s volatility.
Research firm Lookonchain reported that Wynn not only closed his long but replaced it with a new short position worth around $110 million.
Top trader @JamesWynnReal has flipped bearish on $BTC, switching from long to short.
He opened a $BTC short position of 1,038.7 $BTC($111.8M) at $107,711.1 an hour ago, with a liquidation price of $149,100.
— Lookonchain (@lookonchain) May 25, 2025
“That’s a lot of trading for an illiquid choppy weekend,” trader Daan Crypto Trades remarked on X.
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2025-05-25 12:24