Bitcoin Pauses Below Record as Traders Digest Gains and Tariff Tensions Ease

Bitcoin traded sideways near $109,000 on Monday as U.S. markets closed for Memorial Day, offering little fuel for momentum in crypto markets. Still, digital assets held firm after Donald Trump’s surprise decision to delay steep EU tariffs gave risk sentiment a lift in Europe.

The world’s largest cryptocurrency is just shy of its all-time high and remains up 1.7% over the past 24 hours, continuing to show resilience even as profit-taking accelerates.

Uniswap Outperforms Amid Altcoin Strength

Among the top-performing assets was decentralized exchange token Uniswap (UNI), which jumped 6.6%, while Chainlink (LINK) and Avalanche (AVAX) notched gains of 3.3% and 3.4%, respectively, as tracked by the CoinDesk 20 Index.

The rebound in European stocks and crypto came after Trump walked back his threat to impose 50% tariffs on EU imports starting June 1. The delay until July 9 offered markets temporary relief following Friday’s risk-off move.

Short-Term Investors Lock in $11B in Gains

Despite the calm, analysts caution that bitcoin may face short-term resistance after its rapid ascent from April’s lows. According to Bitfinex, short-term holders have realized $11.4 billion in profits in the past month — up sharply from just $1.2 billion in the prior 30 days.

“At these valuations, there’s growing friction between those taking profits and the pace of fresh inflows,” Bitfinex wrote in a note. “Without a pickup in new demand, price appreciation may stall or reverse.”

If bitcoin corrects, traders are eyeing $95,000 — the average cost basis for short-term holders — as the next major support zone. BTC’s recent dip to $106,000 could mark the bottom of a new consolidation range or simply the start of a deeper pullback, analysts warned.

Still, macro flows remain constructive. Spot bitcoin ETFs in the U.S. have seen more than $5 billion in inflows in May alone, helping to anchor the asset despite global uncertainty and shifting risk appetite.

“As long as structural demand persists and volatility stays contained, bitcoin is likely to resume its uptrend in the months ahead,” Bitfinex concluded.