Bitcoin, Ethereum, XRP, Dogecoin Turn Red As Tariffs Threat Returns

Benzinga
05-24

Cryptocurrency markets are trading lower amid heightened macroeconomic tensions, including a fresh tariff threat by president Donald Trump.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $108,866.35-2.5%
Ethereum ETH/USD $2,565.30-3.7%
Solana SOL/USD $179.62+0.04%
XRP XRP/USD $2.36-2.91%
Dogecoin DOGE/USD $0.2345-3.2%
Shiba Inu SHIB/USD$0.00001477-3.8%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 26.2% and daily active addresses growing by 5.75%. Transactions greater than $100,000 are up from 14,030 to 16,506 in a single day. Exchanges netflows are down by 51.8%.
  • Coinglass data reports 161,179 traders were liquidated in the past 24 hours for $563.57 million.

Notable Developments:

  • Solana Rallies As R3 Partnership Signals Institutional Shift, SOL-DOGE Bridge Introduced
  • Pantera CEO Predicts Surge In Crypto IPOs As US Regulatory Tone Turns Favorable
  • Congressman Bought Bitcoin, Solana, XRP In December — And Didn’t HODL: A Look At Missed Profits By Selling Before BTC All-Time Highsv
  • JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report
  • Ripple Rebounds; Stablecoin Launch And Burn Strategy Add Tailwind

Top Losers:

CryptocurrencyPrice   Gains +/-
OFFICIAL TRUMP TRUMP/USD $13.31-15.3%
Lido DAO LDO/USD $0.9002-8%
The Graph GRT/USD $0.1141-7.1%

Trader Notes: Crypto trader Mayne sees Bitcoin's pullback as a dip into a key demand zone, likely triggered by market overreaction to Trump's EU trade rhetoric.

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If this level holds, it could set up a bullish weekend for BTC and altcoins.

CryptoCon notes this cycle is diverging from past bull runs, exchange balances are falling, not rising. That suggests retail hasn't arrived yet, and the mania phase is still to come.

Pentoshi remains long-term bullish, stating Bitcoin is on track to break all-time highs against gold and never look back. The ETF boom and institutional adoption are the catalysts.

Follis highlights Bitcoin's month-long ascending channel. As long as it holds, pullbacks near $106,000 are buying opportunities, with new highs on the table. Only a breakdown would warrant swing short setups.

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Read Next:

  • Bitcoin Extends Rally From May Lows — Can It Break $120,000 Next?

Image: Shutterstock

$BTCBitcoin
$109040.86-2.40%

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Reveal Full Score
Edge Rankings
Momentum
Not Available
Price Trend
Short
Medium
Long
Overview
$DOGEDogecoin
$0.2339-4.77%
$ETHEthereum
$2568.74-3.63%
$GRTThe Graph
$0.1139-6.84%
$LDOLido DAO
$0.8970-7.14%
$SHIBShiba Inu
$0.000015-4.96%
$SOLSolana
$179.57-0.08%
$TRUMPOfficial Trump
$13.24-10.0%
$XRPRipple
$2.36-3.11%
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