Bitcoin (BTC) price reclaims $109,00 as Trump delays EU tariff implementation

US President Donald Trump has extended the deadline of a proposed 50% tariff on EU goods to July 9.

US President Donald Trump has extended the deadline for a proposed 50% tariff on EU goods to July 9, deferring a move that could have sparked market volatility and affected cryptocurrency prices.

The temporary easing in trade tensions could help fuel Bitcoin's (BTC) rally to new all-time highs.

Bitcoin (BTC) price slipped back above $109,000 during the late trading hours on May 25, as traders responded to President Donald Trump's decision to delay the implementation of tariffs on EU goods until July 9.

According to data from Cointelegraph Markets Pro and TradingView, BTC rose by as much as 3.2% to an intraday high of $110,100 by 01:57 UTC. The cryptocurrency recovered from a low of $106,660 hit earlier on May 25.

Trump extends EU tariff deadline

Bitcoin's recovery above $109,000 followed Trump's decision to delay a proposed 50% tariff on European Union goods, easing trade tensions and fueling renewed optimism across risk assets.

This decision came after a call with European Commission President Ursula von der Leyen, who stated that the EU needed time, until July 9, to "reach a good deal" with the United States.

"@POTUS and I had a good call. The EU and US share the world’s most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," she wrote on Twitter.

Trump had initially proposed a 20% tariff on most EU imports in April, which was later reduced to 10% to allow time for negotiations.

On May 23, he threatened to increase the tariffs to 50% by June 1, causing Bitcoin to dip below $108,000, highlighting the market's sensitivity to trade tensions.

"Now that the EU has agreed to open trade talks with the US, the 50% tariff threat on July 1 has been extended to July 9. This provides time for the EU to come to the table and negotiate a win-win trade deal that will boost both of our economies," the White House stated in a statement.

Market participants noted that the extension placed Bitcoin back on track to continue its uptrend.

"Bitcoin will pump again," said pseudonymous BTC investor Random Crypto Pal in response to the news.

"Bitcoin is gaining momentum because of Europe tariffs delays (July 9). If Biden gets reelected and announces a minimum wage hike to $15, Bitcoin will hit $250k by 2024. If not, then $150k max," added fellow Kevin T.

BTC price headed for an 8-week win streak

BTC's close above $109,000 on May 25 was the seventh consecutive bullish weekly close, as shown in the chart below.

If Bitcoin continues to maintain its upward trajectory, it is likely to close green for the eighth consecutive week on June 1.

Historically, such a scenario has preceded six to 12 months of positive price action.

"Since 2014, an 8-week streak of green weekly closes has occurred only three times," said crypto analyst and trader Carpe Noctom in a May 26 post on X, adding:

"Two of the streaks started in May (2017 and 2024). Could we see BTC continue higher this week, then drop or consolidate next week to retest key support levels before entering a parabolic phase for the rest of the year?"

Key Bitcoin price levels to watch

Bitcoin must flip the all-time high at $111,900 into support to continue its price discovery.

As Cointelegraph reported, BTC price could rally to fresh record highs of $130,000 if the bulls push above the $109,588 to $111,980 overhead resistance zone, BTC/USD must hold above the weekly close at $109,000. Below that is a major demand zone from $104,500 to $106,000.

Other levels to watch on the downside are the daily support at $102,500, which supported the price between May 9 and May 19, and the psychological level at $100,000.

Trader Micky Bull said it was "very critical" for the BTC/USD pair to close the day above the previous all-time high of $109,000 reached on Jan. 20.

MN Capital founder Michael van de Poppe pointed out that if Bitcoin continued "