Bitcoin Pauses at $103K
Bitcoin Price Rally Pauses at $103K
Bitcoin (BTC) experienced a brief pause in its May rally on Friday, May 17, 2025, closing slightly lower at $103,110 after reaching an intraday high of $103,677. This slowdown coincided with several statements from U.S. President Donald Trump regarding macroeconomic and geopolitical issues.
Trump's comments, particularly his call for the Federal Reserve to implement rate cuts sooner, appear to have influenced market sentiment. His remarks added pressure on the central bank ahead of its June meeting. Bitcoin, known for its sensitivity to interest rate changes, reacted by halting its recent upward trend.
“The Fed should cut rates sooner, rather than later.” — Donald Trump, Truth Social post, May 17, 2025
The modest decline followed a week of substantial gains, exceeding 7%, fueled by speculation surrounding looser monetary policy under a potential Trump administration return.
Further contributing to investor hesitation were Trump's planned calls with Vladimir Putin and Volodymyr Zelenskyy aimed at mediating a ceasefire in the ongoing Russia-Ukraine conflict. The potential implications of these negotiations added uncertainty to the market.
What's Next for Bitcoin?
Increased volatility and Trump's re-emergence in the global policy arena have introduced a period of uncertainty for Bitcoin traders. Trump's upcoming call with Putin, if it occurs, could significantly impact risk assets, including BTC.
A potential ceasefire between Russia and Ukraine could significantly impact Bitcoin. Restored trade relations with Russia could decrease energy costs for miners and reduce industrial inflation. These factors could attract further investment as Bitcoin consolidates above $100,000 for the tenth consecutive day.
If the $103,000 level holds, a renewed attempt to reach $105,000 is possible, especially if Fed Chair Powell hints at earlier rate cuts.
Bitcoin Price Forecast: Potential $105K Rebound
Short-term Bitcoin price forecasts suggest consolidation around $103,000 following failed attempts at new all-time highs earlier in the week. Despite a small intraday pullback, technical indicators from TradingView suggest a bullish structure remains.
- Bollinger Bands are widening, indicating volatility, with BTC near the upper band.
- Parabolic SAR dots remain below the candlesticks, supporting a bullish bias.
- MACD shows waning momentum, with the histogram flattening and turning red.
The $100,000 support level, holding for 10 days, suggests resilience against a significant price drop.
Frequently Asked Questions (FAQs)
- Q: Why did Bitcoin's rally pause?
A: Traders are digesting President Trump's rate cut remarks and geopolitical updates regarding Russia. - Q: How could Trump's comments impact Bitcoin?
A: His call for earlier rate cuts could increase risk appetite and support further Bitcoin gains. - Q: What is the significance of the $100,000 level?
A: It has acted as a strong support level for 10 days, suggesting bullish consolidation.
Disclaimer: This content reflects the author's opinion and is subject to market conditions. Conduct thorough research before investing. The author and publication are not responsible for financial losses.