Bitcoin (BTC) lost its grip on the $108,000 mark over the weekend, extending a decline that began after fresh U-S trade-tariff threats.
The retreat left the world’s largest cryptocurrency almost $4,000 below the all-time high of $112,000 set just three days earlier.
Market watchers blamed an escalation in tariff rhetoric from President Donald Trump, who floated duties of up to 50 percent on European goods.
Those remarks triggered an immediate risk-off move, sending both equities and digital assets lower.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near multi-day lows in early Monday trading.
Analysts argue the bullish structure is intact
Not everyone is discouraged by the pullback.
Keith Alan, co-founder of Material Indicators, said the macro trend line and two major moving averages have “confluence with the Yearly Open” at roughly $93,500.
“As long as BTC is trading above that zone, the Bull trend is still intact.”
Popular trader Crypto Tony echoed that view, insisting a weekly close above $104,000 would be “equally as ok” as a finish above $108,000.
Meanwhile, trader Merlijn highlighted a new CME futures “gap” at $107,230 that could act as a short-term price magnet.
Big money flips from long to short
The weekend’s most eye-catching move came from Hyperliquid trader James Wynn.
Wynn had been long roughly $1.25 billion worth of Bitcoin but closed the position and opened a fresh short of about $110 million at $107,711.
“That’s a lot of trading for an illiquid choppy weekend,” commented analyst Daan Crypto Trades on X.
Lookonchain data showed Wynn’s new bet totaling 1,038.7 BTC with a liquidation price near $149,100.
Observers said the switch underscores how quickly sentiment can turn in highly leveraged derivatives markets.
Volatility tempered by technical support zones
Despite the headline-grabbing trade, chartists note Bitcoin remains above several levels viewed as key to sustaining the broader uptrend.
The 100-day moving average sits just below $100,000, while the 200-day average is near $92,000.
Both averages intersect with the yearly open, creating a zone of potential demand if prices slide further.
At the same time, funding rates on major exchanges have cooled, suggesting derivatives activity is less overheated than during the surge to $112,000.
That moderation could pave the way for a steadier consolidation if macro headwinds subside.
Traders brace for a headline-driven week
With U-S-E-U trade tensions still in the spotlight and the calendar packed with economic releases, analysts expect another bout of headline-driven volatility.
Options traders noted elevated implied volatility ahead of Friday’s $13.8 billion monthly expiry, a factor that could amplify intraday swings.
“Price discovery isn’t dead, but it has paused,” said Crypto Tony.
For now, the focus is on whether buyers can defend the $104,000–$108,000 area and keep the post-halving bull narrative alive.