Bitcoin, Ethereum, XRP, Dogecoin Turn Red As Tariffs Threat Returns

Author: Khyathi Dalal | May 23, 2025 02:19pm

Cryptocurrency markets are trading lower amid heightened macroeconomic tensions, including a fresh tariff threat by president Donald Trump.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$108,866.35	-2.5%
Ethereum (CRYPTO: ETH)	$2,565.30	-3.7%
Solana (CRYPTO: SOL)	$179.62	+0.04%
XRP (CRYPTO: XRP)	$2.36	-2.91%
Dogecoin (CRYPTO: DOGE)	$0.2345	-3.2%
Shiba Inu (CRYPTO: SHIB)	$0.00001477	-3.8%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 26.2% and daily active addresses growing by 5.75%. Transactions greater than $100,000 are up from 14,030 to 16,506 in a single day. Exchanges netflows are down by 51.8%.
• Coinglass data reports 161,179 traders were liquidated in the past 24 hours for $563.57 million.

Notable Developments:

• Solana Rallies As R3 Partnership Signals Institutional Shift, SOL-DOGE Bridge Introduced
• Pantera CEO Predicts Surge In Crypto IPOs As US Regulatory Tone Turns Favorable
• Congressman Bought Bitcoin, Solana, XRP In December — And Didn’t HODL: A Look At Missed Profits By Selling Before BTC All-Time Highsv
• JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report
• Ripple Rebounds; Stablecoin Launch And Burn Strategy Add Tailwind

Top Losers:

Cryptocurrency	Price	Gains +/-
OFFICIAL TRUMP (CRYPTO: TRUMP)	$13.31	-15.3%
Lido DAO (CRYPTO: LDO)	$0.9002	-8%
The Graph (CRYPTO: GRT)	$0.1141	-7.1%

Trader Notes: Crypto trader Mayne sees Bitcoin's pullback as a dip into a key demand zone, likely triggered by market overreaction to Trump's EU trade rhetoric.

If this level holds, it could set up a bullish weekend for BTC and altcoins.

$BTC

Pull back into demand here.

Assuming this is an over reaction from Trump's talks with EU this is where we want to hold.

Bullish weekend for BTC and Alts? pic.twitter.com/GKUgruEEAR

— Mayne (@Tradermayne) May 23, 2025

CryptoCon notes this cycle is diverging from past bull runs, exchange balances are falling, not rising. That suggests retail hasn't arrived yet, and the mania phase is still to come.

Pentoshi remains long-term bullish, stating Bitcoin is on track to break all-time highs against gold and never look back. The ETF boom and institutional adoption are the catalysts.

Follis highlights Bitcoin's month-long ascending channel. As long as it holds, pullbacks near $106,000 are buying opportunities, with new highs on the table. Only a breakdown would warrant swing short setups.

$BTC in an ascending channel for over a month

Probably no swing shorts unless we break down

Then you look for bearish retests

Otherwise pullbacks to $106k area for buying, looking for new highs pic.twitter.com/3H50aGb1hO

— フ ォ リ ス (@follis_) May 23, 2025

Read Next:

• Bitcoin Extends Rally From May Lows — Can It Break $120,000 Next?

Image: Shutterstock

Posted In: $BTC $DOGE $ETH $GRT $LDO $SHIB $SOL $TRUMP $XRP