{"id":114789,"date":"2025-05-23T19:32:00","date_gmt":"2025-05-23T15:32:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114789"},"modified":"2025-05-23T20:35:40","modified_gmt":"2025-05-23T16:35:40","slug":"bitcoin-dips-to-109000-as-trumps-tariff-threats-and-profit-taking-weigh","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-dips-to-109000-as-trumps-tariff-threats-and-profit-taking-weigh\/05\/23\/market-updates\/","title":{"rendered":"Bitcoin Dips to $109,000 as Trump\u2019s Tariff Threats and Profit-Taking Weigh"},"content":{"rendered":"Bitcoin Retreats from Peak<br \/><br \/>Bitcoin (BTC) declined to $109,110 on Friday, May 23, 2025, reflecting a 1.6% drop from its record high of $111,953.6 achieved on Thursday. The retreat was driven by profit-taking after a strong rally, coupled with significant overnight transfers, including over $670 million received by Coinbase Global. Despite the pullback, Bitcoin remains poised for an 8% weekly gain and an 18% monthly increase, bolstered by optimism over U.S. regulatory progress and consistent inflows into spot Bitcoin exchange-traded funds (ETFs).<br \/><br \/>Trump\u2019s Tariff Proposals Dent Crypto Market<br \/><br \/>The cryptocurrency market faced downward pressure following U.S. President Donald Trump\u2019s announcement of potential 50% tariffs on European Union imports and 25% tariffs on iPhones manufactured outside the U.S. The statement, made via social media, heightened economic uncertainty, prompting a shift toward safe-haven assets like bonds and gold. S&#038;P 500 futures fell 1.3%, while major cryptocurrencies, including Ethereum (ETH) at $2,572.45 (-2.8%), XRP at $2.36 (-2.4%), and Dogecoin (-3.5%), mirrored Bitcoin\u2019s decline. Solana, however, saw a modest 0.5% rise.<br \/><br \/>Regulatory Advances Support Crypto Outlook<br \/><br \/>Bitcoin\u2019s resilience is supported by growing U.S. regulatory clarity. The Senate advanced the \u201cGuiding and Establishing National Innovation for U.S. Stablecoins\u201d (GENIUS) Act, a key move toward regulating stablecoins that could foster greater institutional involvement. U.S. spot Bitcoin ETFs recorded $934.7 million in net inflows on Thursday, with BlackRock\u2019s IBIT contributing $877.6 million, and total trading volume reaching $5.39 billion. Reports also indicate that major U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring a joint stablecoin to enable faster, cost-efficient transactions.<br \/><br \/>Tokenized Stocks Introduced and Market Trends<br \/><br \/>Tokenized versions of U.S. stocks, known as xStocks, were launched to allow non-U.S. investors to trade digital tokens reflecting shares of companies like Apple, Tesla, and Nvidia with round-the-clock access. The service, rolled out in select international markets excluding the U.S., marks a step toward broader crypto adoption. Sustained demand is further driven by MicroStrategy\u2019s ongoing Bitcoin acquisitions and U.S. fiscal concerns, though analysts note support at $106,000 and potential for Bitcoin to climb to $120,000 if the uptrend holds, with $95,000 as a critical level to watch for any trend reversal.","protected":false},"excerpt":{"rendered":"<p>Bitcoin Retreats from PeakBitcoin (BTC) declined to $109,110 on Friday, May 23, 2025, reflecting a 1.6% drop from its record high of $111,953.6 achieved on Thursday. The retreat was driven by profit-taking after a strong rally, coupled with significant overnight transfers, including over $670 million received by Coinbase Global. Despite the pullback, Bitcoin remains poised &hellip;<\/p>\n","protected":false},"author":13,"featured_media":98174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[],"class_list":["post-114789","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=114789"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114789\/revisions"}],"predecessor-version":[{"id":114791,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114789\/revisions\/114791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98174"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}