Bitcoin Lingers Near $104K as Trade Tensions Spur Profit-Taking

Bitcoin held relatively flat at $104,640.30 on Monday, after enduring heavy losses over the weekend amid renewed U.S.-China trade friction and rising U.S. tariffs. Profit-booking from record highs—exacerbated by last week's ETF outflows—has pressured Bitcoin, which has slid since topping $111,000 in late May.

Bitcoin's Weekend Rout and Institutional Flows

• Last week's peak: Bitcoin briefly surged to $111,000, fueling a wave of profit-taking as prices became overextended.

• ETF outflows: Exchange-traded fund data showed significant institutional selling in the final two trading days of May, amplifying the downward pressure.

• Current range: Bitcoin stabilized around $104K, reflecting a broader pause after extreme volatility.

To monitor Bitcoin's intraday movements and gauge how steep these sell-offs have been compared to past pullbacks, check the Cryptocurrency Daily API, which offers live OHLC (open, high, low, close) data and volume metrics.

Trade-War Sentiment Caps Risk Appetite

• U.S.-China spat resurfaces: President Trump accused China of violating a mid-May trade deal, prompting Beijing to warn it would safeguard its interests. The breakdown in talks has dampened hopes of a swift resolution.

• Tariff escalation: Trump's announcement of raising steel and aluminum tariffs to 50% from 25% further rattled markets, provoking risk aversion that bled into crypto.

• Risk-off correlation: Bitcoin's retreat mirrored equities and other risk assets as traders repositioned into safer havens.

For a schedule of upcoming trade-policy announcements—like U.S. tariff deadlines and congressional hearings—use the Economics Calendar API, which flags events most likely to trigger market-wide volatility.

Wider Crypto Market Impact

• Altcoin slump: Ethereum, Solana, and other major tokens also declined, following Bitcoin's lead as traders booked profits across the board.

• Volume contraction: Weekend trading volumes tapered off, signaling that many participants are waiting for clearer direction from macro headlines before re-entering.

By comparing Bitcoin's weekend sell-off to prior drawdowns—such as the pullback after $100,000 in December—investors can identify if this dip is unusually deep or characteristic of a brief consolidation. Historical insights are available via the Cryptocurrency Historical Data API.

What Lies Ahead for Bitcoin?

1. Trade Negotiations: Any progress in U.S.-China talks could restore risk appetite and spur a crypto rebound.

2. Tariff Decisions: Confirmation that steel and aluminum levies remain at 50% may prolong risk aversion; a reversal could reignite buying.

3. ETF Flow Trends: Continued outflows may extend the bearish phase; conversely, a pivot to inflows could catalyze fresh upside.