$BTC Holds Above $104K Despite Tariff Tensions


$BTC maintained support above $104,000 as Trump escalated U.S.-China tensions, hiking steel and aluminum tariffs to 50%.


Markets absorbed nearly $1 billion in liquidations triggered by renewed geopolitical uncertainty.


BlackRock's Bitcoin ETF recorded $430 million outflows on May 30, ending a record 34-day inflow streak.


Trump accused China of violating the mid-May trade agreement, prompting Beijing to threaten "forceful measures."


Analysts note risk reversals have normalized with perpetual funding rates turning flat, suggesting muted short-term price volatility ahead.


QCP Capital expects range-bound trading between $100K and $110K until July 8, citing high open interest at those key levels and limited #policy catalysts.

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June 02, 2025 at 7:08 PM
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