November 17 2025
Bitcoin (BTC) has recently struggled to maintain the $108.000 barrier as its price action has been affected by fresh trade conflicts in the United States. This has led to a decrease in confidence among traders, despite many of them believing that BTC is capable of testing even lower levels while the bull market remains intact.
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD remained close to multi-day lows. The price drop followed comments from US President Donald Trump about tariffs of over 50% on goods from the European Union. This led to further confusion in the market, with $112.000 turning out to be Bitcoin’s latest all-time high.
This situation was exacerbated by rumors of tariffs on specific products from major tech companies, leading to frustration among market participants over the influence of political statements on volatility. Keith Alan, co-founder of trading resource Material Indicators, referred to Trump’s statements as “more light talk from the Manipulator in Chief.” Nevertheless, he also saw positive signs for Bitcoin bulls, noting that the price still had room to retest support without derailing the broader uptrend.
“The MACRO trendline and two important moving averages on the daily Bitcoin chart are coinciding with the yearly opening value,” he added, referring to BTC/USD’s 2025 opening level of around $93.500. “As long as BTC trades above that level, the bull trend remains intact.”
Popular trader Crypto Tony had a similar opinion, suggesting that a drop of $4.000 from current levels would be acceptable based on the weekly close. He stressed that a close above $108.000 was desirable, but a close above $104.000 could also be acceptable as long as it breaks through the resistance zone.
Another trader, Merlijn, pointed out a classic price mechanism by pointing to a new “gap” in CME Group’s Bitcoin futures. “BTC just left a new CME Gap at $107.230. These gaps don’t stay open for long; expect price to come back and fill them.”
In a notable development, a high-volume trader recently changed his strategy by going short on BTC, which caught the attention of market observers. Hyperliquid trader James Wynn had previously opened a long position of $1,25 billion but started losing money due to the volatility resulting from Trump’s comments. He closed his long position and instead opened a new short position of around $110 million, noting that the liquidation price would be $149.100. This rapid shift demonstrates the dynamics of trading in an unpredictable market.
Daan Crypto Trades noted: “That's a lot of trading for an illiquid and unpredictable weekend market.”
The current situation around Bitcoin shows how external factors such as political statements and trade conflicts can have a significant impact on the crypto market. Although traders are adjusting to this volatility, the long-term trend for Bitcoin remains positive, provided that crucial support levels remain intact. The coming weeks could be crucial for the further development of the market.
How do trade conflicts affect Bitcoin's price?
Trade conflicts can lead to uncertainty and volatility in the markets, which can make traders reconsider their positions. This can cause both increases and decreases in the price of Bitcoin, depending on market sentiment.
What is a CME Gap and Why is it Important?
A CME Gap refers to a price difference in the futures market at the time the market opens after it has been closed. Traders often expect these gaps to eventually fill, which can be an important level to watch.
What does it mean when a trader shorts Bitcoin?
When a trader goes short, he or she is speculating on a decline in the price of an asset, meaning that the trader hopes to profit at a lower price. This can be an indicator of bearish sentiment in the market.
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