TLDR
- Bitcoin rose to $109,600 after Trump delayed 50% EU tariffs until July 9, easing trade tensions
- The cryptocurrency hit an all-time high of $111,814 on May 22 before pulling back following tariff threats
- Derivatives activity increased with 24-hour open interest up 2.59% to $76.66 billion
- Options traders are targeting $120,000 Bitcoin price by end of June according to Deribit data
- U.S. equity futures gained 0.8-1% as markets responded positively to the tariff delay
Bitcoin climbed back above $109,600 in Sunday trading as President Donald Trump agreed to delay proposed tariffs on European Union goods. The move provided relief to global markets after a week of trade-related volatility.
Trump announced the extension on Truth Social following a call with European Commission President Ursula von der Leyen. The EU had requested more time to finalize trade negotiations.
The original June 1 deadline for 50% tariffs has been pushed to July 9. This gives both sides additional weeks to reach an agreement.
🚨 LATEST: Trump delays 50% EU tariffs until July 9 🇺🇸🇪🇺
S&P 500 futures up 1.28%, Nasdaq futures up 1.43% from Friday’s close 📈 pic.twitter.com/4XbAQKnHDR
— Trader Edge (@Pro_Trader_Edge) May 26, 2025
Bitcoin gained 1.4% in the past day to trade at $109,637 during early Asian hours on May 26. The recovery follows a volatile period for the world’s largest cryptocurrency.
The digital asset briefly reached an all-time high of $111,814 on May 22. However, it pulled back to around $107,500 after Trump’s initial tariff threats on Friday.
BTC Price
Market Activity Increases
Derivatives markets showed renewed activity following the tariff delay. Open interest increased 2.59% to $76.66 billion over 24 hours according to Coinglass data.
Trading volume jumped 10.85% to $89.91 billion. Rising derivatives activity often indicates renewed trader confidence and position building.
Options traders are positioning for further gains. Deribit data shows over half a billion dollars in notional volume at the $120,000 strike price for end-of-June contracts.
U.S. equity futures responded positively to the tariff extension. S&P 500 futures rose 0.9% while Dow futures added 0.8%.
Nasdaq-100 futures gained 1% in early Monday trading. The positive sentiment reflected reduced concerns about transatlantic trade tensions.
Analysts Maintain Bullish Outlook
Several analysts remain optimistic about Bitcoin’s near-term prospects. Ryan McMillin from Merkle Tree Capital expects the cryptocurrency to push toward $120,000.
“Bitcoin has been trading more in line with gold lately, reflecting its appeal as a non-sovereign asset,”
McMillin told Decrypt. He cited global money supply growth as a supportive factor.
Pav Hundal from crypto exchange Swyftx also sees $120,000 as a realistic target. He noted the concentration of options activity at that price level.
The EU had paused retaliatory tariffs on $23 billion in U.S. imports while consulting on measures targeting $95 billion worth of goods. The bloc exported over $600 billion in goods to the U.S. last year.
Gold prices declined 0.3% to $3,346.59 per ounce as risk appetite improved. The move away from traditional safe havens benefited risk assets like Bitcoin.
Trump had initially proposed 20% tariffs on most EU imports in April before reducing them to 10%. He threatened to raise them to 50% by June 1 if negotiations stalled.
The cryptocurrency market remains sensitive to macro policy developments. Trade dynamics and monetary conditions continue to influence digital asset prices.
QCP Capital noted the broader backdrop remains supportive for crypto. They cited a more accommodating U.S. regulatory environment and persistent institutional inflows.
Bitcoin is up 15% over the past 30 days despite recent volatility. The cryptocurrency continues to benefit from steady ETF inflows and institutional demand.
