Overview
- Bitcoin traded around $103,600 on May 31 after President Trump doubled tariffs on Chinese steel and aluminum, reigniting trade tensions.
- More than $800 million in leveraged crypto positions were liquidated over 24 hours, with over 89 percent of liquidations tied to long bets.
- Ether, XRP, Solana and Dogecoin each posted declines between 3 percent and 8 percent, boosting Bitcoin’s market dominance above 64 percent.
- Futures open interest jumped 51 percent since April and options volume surged 126 percent, signaling heightened market caution.
- Institutional inflows into spot Bitcoin ETFs exceeded $430 million in May, and analysts forecast a temporary downturn toward $100,000 before Bitcoin resumes its uptrend to new highs.