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Bitcoin Rebounds Above $104,300 as Tariff Chaos Triggers Nearly $1B in Liquidations
BTC rebounds after plunging on U.S. tariff headlines, with strong volume support emerging near $103K and fresh institutional bids helping stabilize the market.
May 31, 2025, 6:01 p.m.
What to know:
- Bitcoin experienced a notable correction, dropping from $105,875 to a low of $103,156, representing a range of $2,719 (2.57%).
- U.S. spot Bitcoin ETFs recorded $358.6 million in net outflows on Thursday, ending a 10-day streak of positive flows that had brought in $4.26 billion.
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.
STORY CONTINUES BELOW
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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.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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