Bitcoin (BTC) Surges to $107,000 Before Dropping to $103,000, Amid $620M in Market Liquidations

On May 19, 2025, Bitcoin surged to $107,000 before dropping to $103,000 amid $620 million in market liquidations, while crypto whales opened high-leverage positions

Crypto market saw a volatile Monday morning, with Bitcoin (BTC) surging to $107,000 before dropping to $103,000 amid $620 million in liquidations, while crypto whales opened high-leverage positions.

BTC, ETH, XRP Experience Sharp Volatility, Market Sees $620M in Liquidations

Bitcoin’s climb was fueled by optimism over U.S.-China trade deal prospects and former President Trump’s pro-crypto stance, including a potential Bitcoin reserve. The Relative Strength Index (RSI) for BTC reached 73.51, indicating overbought conditions but strong bullish momentum.

However, the rally stalled as macroeconomic concerns came into play. Moody’s downgrade of the U.S. credit rating to Aa1, citing a $36 trillion national debt, induced risk-off sentiment across markets.

After Bitcoin (BTC) shot up to $107k, the price dipped to $103k, finding support between $102k and $104k.

Liquidation data from CoinGlass showed a total of $620M in liquidations, with long positions bearing the brunt at $390M across the market. This pullback, described by analysts as a “correction within a broader uptrend,” highlights the market’s sensitivity to global economic signals.

(Data Source: CoinGlass)

Altcoins followed Bitcoin’s lead, showcasing high volatility. Ethereum (ETH) surged toward $2,600 before sliding to $2,390, down 4% in 24 hours, driven by whale accumulation but tempered by $245M in liquidations.

Solana (SOL) and XRP faced steeper declines, with SOL dropping 1% to around $165 and XRP falling 2% amid profit-taking. Meme coins like Dogecoin (DOGE) remained stable at $0.22, while others, like PI, crashed 42% over the past seven days.

Analysts Remain Optimistic, Predict Bitcoin Will Reach $200K

The crypto market experienced significant turbulence on May 19, with total capitalization dropping 2.5% to $3.38 trillion, driven by low trading volumes amplifying large trades and economic uncertainty from U.S.-China trade tensions.

Despite the market’s strong volatility, experts remain optimistic about Bitcoin’s future.

After U.S. President Biden announced advances in negotiations with Chinese President Xi Jinping on trade and climate issues during the G7 summit, both leaders agreed to continue discussions at the upcoming APEC summit in November. This development has raised hopes for a potential resolution to the ongoing trade dispute between the two economic superpowers.

Moreover, former President Trump’s pro-crypto stance has also been a subject of discussion. In a recent interview, Trump stated that he holds a positive view of cryptocurrency and wouldn’t be surprised if, during his presidency, the U.S. adopts Bitcoin as a reserve currency.

This statement comes after reports that Trump is planning to launch his own cryptocurrency token. According to a recent interview with the former president, the project is still in the works and faces challenges in securing approval from the relevant authorities.

Despite these difficulties, Trump remains optimistic about the potential of his own crypto token to revolutionize the financial landscape.

“I like cryptocurrency. I think it’s interesting. It’s a form of money, maybe a better form of money than what we have now,” Trump said in an interview with Breitbart News.

The former president went on to say that he wouldn’t be surprised if, during his presidency, the U.S. adopts Bitcoin as a reserve currency.

“We’re going to have to make a deal. We may be going to Bitcoin, which I wouldn’t mind. I like Bitcoin. I think it’s interesting. It’s a form of money, maybe a better form of money than what we have now. But they’re going to have to make a deal with China, and they’re going to have to do it soon,” Trump said.

The former president’s remarks come amid growing interest in cryptocurrency among politicians and economists. As the world’s largest economy grapples with rising inflation and national debt, some experts believe that Bitcoin could provide a valuable hedge against economic instability.

However, the U.S. government has yet to officially recognize Bitcoin as legal tender. In 2021, Salvador became the first country in the world to adopt Bitcoin as a form of payment.

If the U.S. were to adopt Bitcoin as a reserve currency, it would be a major turning point for the cryptocurrency market. It would also have far-reaching implications for the global financial system.

In the meantime, the crypto market continues to be volatile, with prices fluctuating significantly in response to macroeconomic events and news. Despite the market’s turbulence