Bitcoin has rebounded above $104,300 after a sharp decline triggered by renewed US-China tariff tensions. The cryptocurrency experienced a notable correction, dropping from $105,875 to a low of $103,156, representing a 2.57% decrease. This downturn led to nearly $1 billion in liquidations across the crypto market.
Despite the volatility, strong volume support emerged near $103,000, with institutional investors stepping in to stabilize the market. Companies like Strategy (formerly MicroStrategy) and GameStop have added Bitcoin to their corporate treasuries, signaling continued institutional interest.
Technical analysis indicates a bottoming pattern, with buyers consistently stepping in around the $103,200–$103,400 zone. The subsequent recovery phase gained momentum after breaking above the $104,000 resistance level, suggesting the correction has likely completed and the price is establishing a new support base.
In May, Bitcoin rose 8.2%, reaching a monthly high of $111,616 before pulling back to $104,420 as traders responded to global macroeconomic uncertainty and regulatory developments.
As of June 1, 2025, Bitcoin is trading at approximately $104,456, reflecting a 0.71% increase from the previous close.The intraday high and low are $104,902 and $103,394, respectively.
