Bitcoin is holding steady near $108,700 despite traditional markets reacting to renewed trade tensions initiated by Donald Trump. The U.S. president indicated plans to increase tariffs on imports, possibly up to 50%, due to ongoing friction with the European Union over tech regulations.
This rhetoric caused Asian equities to fall for the third time in four sessions, drove down copper futures in London, and negatively impacted U.S. equity futures.
However, Bitcoin largely remained unaffected, suggesting that crypto investors may be dismissing the broader market noise or perceiving BTC as increasingly insulated from global policy risks, according to some analysts.
“Bitcoin’s slight price decline in response to Trump’s tariff plans demonstrates the digital asset’s resilience and long-term investor confidence,” said Han Xu, Director at HashKey Capital, in a Telegram message. “We’re hopeful this trend will persist even amid short-term fluctuations.”
Nonetheless, there is evident hesitation at these price levels.
“Buyers are quickly losing momentum,” noted FxPro’s Alex Kuptsikevich. “BTC keeps getting pushed down near $110K, and while the 50-day moving average is attracting dip buyers, sellers remain active.”
Overall market capitalization, although up 1.8% for the week, slipped 0.6% in the last 24 hours to $3.35 trillion, indicating another “bout of indecision” at the top.
Choppiness continues, even as crypto ETF inflows remain solid. CoinShares reported its 12th consecutive week of net inflows, with nearly $1 billion entering crypto funds last week, over $790 million of which was directed into Bitcoin.
Ether-tracked products attracted $226 million, Solana $22 million, and XRP $11 million. Total ETF assets under management have reached an all-time high of $188 billion.
However, signs of fatigue are emerging. Bitcoin’s on-chain activity and implied volatility have fallen to their lowest levels in nearly two years, according to RialCenter.
Glassnode described it as a “summer lull,” noting dwindling trading volumes and an increasing concentration of unrealized gains among long-term holders, factors that could lead to sharper market movements if sentiment shifts.
Despite the lack of momentum, the markets remain firmly risk-on, albeit with some nervousness.
“Capital continues to move away from the 200-day moving average,” Kuptsikevich added, “indicating the market still leans bullish. However, any change in tone could invite quick profit-taking.”
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