Bitcoin Tops $110K as Trump Pushes EU Tariff Deadline to July 9

Bitcoin is back above $110,000 after a 2.27% gain in the past 24 hours, lifted by easing U.S.–EU trade tensions and renewed risk appetite across global markets. A surprise tariff extension from President Trump has sparked fresh momentum, driving bullish sentiment in crypto and equities alike.

Bitcoin climbed 2.27% over the past 24 hours, trading at $110,077 early on May 26 in Asian markets, as a reprieve in U.S.–EU trade tensions buoyed risk assets. The flagship cryptocurrency briefly hit an all-time high of $111,814 on May 22 before dipping to around $107,500, leaving it up 15% over the past month.

Derivatives markets showed renewed conviction: Coinglass data reports 24-hour open interest rose 2.6% to $76.7 billion, while trading volume jumped 10.9% to $89.9 billion—signals that traders are rebuilding positions ahead of further price moves.

The catalyst was a late-Sunday announcement by President Donald Trump, who extended his planned June 1 deadline for 50% tariffs on EU goods to July 9, following a request from European Commission President Ursula von der Leyen. “I received a call today… requesting an extension on the June 1st deadline… I agreed to the extension—July 9, 2025,” Trump posted on Truth Social.

Global markets cheered. In early Monday trade, SP 500 futures gained 0.9%, Dow futures rose 0.8%, and Nasdaq-100 futures climbed 1%, while gold slipped 0.3% to $3,346.59 an ounce. With appetite for risk returning, Bitcoin—seen by some as an alternative risk asset—benefited from the shift away from traditional safe havens.

Technical Analysis

Chart by TradingView

On the technical side, Bitcoin just flashed a golden cross signal, on May 22nd. A golden cross occurs when the 50 day Simple Moving Average (SMA) crosses above the 200 day SMA. The previous 3 times such a signal occurred, Bitcoin rallied 38%, 115%, and 58% respectively form the moment the signal occurred to the height of the rally.

The Relative Strength Index (RSI) is currently just below the overbought level, but as we know, Bitcoin can stay overbought between 1-2 months in which the cryptocurrency experiences its strongest rally.

Bottom Line: Bitcoin’s surge past $110K reflects renewed market optimism amid easing U.S.–EU trade tensions and bullish technical signals. With Trump’s tariff delay fueling risk appetite and Bitcoin flashing a golden cross, momentum appears strong—setting the stage for potential further gains.