Bitcoin Drops Below $110,000 Ahead of Trump Speech
The leading cryptocurrency is down more than 9% over the past week, pressured by mounting uncertainty in U.S. politics and renewed bearish activity from large traders.
The pullback follows a volatile week for risk assets as Washington faces a renewed threat of a government shutdown. Lawmakers have yet to reach a deal to fund federal agencies, sparking concerns over broader market instability.
Investors are also on edge ahead of President Trump’s scheduled speech later today, which could include comments on fiscal spending and new tariffs against China.
Adding to the tension, blockchain data indicates that the same mysterious whale who famously opened massive short positions just hours before the 100% tariff announcement against China earlier this month has returned to the market — this time increasing short exposure again. Traders are speculating that insider knowledge or sophisticated macro positioning could be at play, heightening volatility across exchanges.
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Technically, Bitcoin’s daily chart shows fading momentum, with RSI levels sliding toward neutral territory and the MACD signaling continued weakness. The $110,000 threshold, previously acting as support, now appears to be a key resistance level. Analysts warn that a decisive close below $109,000 could accelerate the downside toward $105,000 if broader market sentiment worsens.
Meanwhile, total 24-hour trading volume remains high at around $71.4 billion, suggesting heavy repositioning among both retail and institutional participants. Market watchers are closely monitoring Trump’s remarks for clues about potential policy shifts that could influence risk appetite across equities, commodities, and crypto.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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