Bitcoin (BTC) surged above $109,000** on Monday, recovering from Friday’s downturn. The rebound was driven by improved market sentiment after US President Donald Trump delayed a planned **50% tariff** on EU goods. Meanwhile, institutional demand for Bitcoin strengthened, with US spot Bitcoin ETFs recording **$2.75 billion in weekly inflows—the highest since late April.
Trump’s Tariff Delay Fuels Bitcoin Recovery
President Trump announced via Truth Social that the 50% EU tariff implementation would be postponed from June 1 to July 9. This decision followed Friday’s initial announcement, which triggered a 3.9% Bitcoin price drop amid risk-off sentiment. The temporary relief slightly restored investor confidence, leading to a mild recovery in risk assets like Bitcoin during Asian and European trading sessions.
Key Takeaways:
- Market Relief: Tariff delay eased immediate economic tensions.
- BTC Reaction: Bitcoin regained lost ground, trading at $109,760 by Monday.
Institutional Demand Hits Multi-Week High
According to SoSoValue, US spot Bitcoin ETFs saw $2.75 billion in inflows** last week—the strongest since late April. This marked the **sixth consecutive week** of positive inflows, signaling growing institutional interest. Sustained demand could propel Bitcoin’s rally toward **$120,000.
👉 Why Institutional Investors Are Flocking to Bitcoin
Geopolitical Risks Loom Over BTC Rally
Despite the recovery, escalating Russia-Ukraine tensions pose risks:
- Recent Attacks: Russia launched 355 drones and 9 missiles at Ukraine (per BBC).
- Market Impact: Prolonged conflict may drive capital toward safe-haven assets (e.g., gold) and pressure Bitcoin.
Bitcoin Price Analysis: Key Levels to Watch
- Support: $106,406** (daily level). A break below could test **$100,000.
- Resistance: $111,900** (ATH). Closing above this may target **$120,000.
Indicators:
- RSI at 67: Bullish momentum persists.
- MACD Convergence: Suggests short-term trader indecision.
FAQs
What caused Bitcoin’s price rebound?
The delay in US-EU tariffs improved market sentiment, alongside strong ETF inflows.
How do geopolitical events affect Bitcoin?
Conflicts like Russia-Ukraine can dampen risk appetite, pushing investors toward safer assets.
What’s next for BTC price?
A close above $111,900** could extend gains, while a drop below **$106,406 may trigger a deeper correction.
👉 Explore Bitcoin Trading Strategies
Disclaimer: This content is for informational purposes only. Cryptocurrency investments involve risks; conduct independent research before deciding.
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