Bitcoin’s Structural Uptrend Holds Strong Despite Short-Term Pullback
Bitcoin experienced a 7% dip from its record high of $111,900 as traders engaged in profit-taking following a significant 50% rally from April lows. This retracement is seen as a typical market reaction after such a sharp upward movement. The pullback was further influenced by escalating geopolitical tensions, particularly between the U.S. and China, with Treasury Secretary Scott Bessent noting stalled negotiations and former President Trump threatening to increase tariffs on Chinese metals to 50%. Despite these short-term headwinds, the structural uptrend for Bitcoin remains intact, with the current price standing at $104,643.52 USDT. Analysts view this as a healthy consolidation phase within a broader bullish trend, offering potential entry points for long-term investors.
Bitcoin Dips Amid Profit-Taking and Geopolitical Tensions, but Structural Uptrend Remains Intact
Bitcoin retreated 7% from its record high of $111,900 as traders locked in gains following a 50% rally from April lows. The pullback reflects typical market behavior after sharp upward moves, compounded by rising trade tensions between the U.S. and China. Treasury Secretary Scott Bessent cited stalled negotiations, while former President TRUMP threatened to hike tariffs on Chinese metals to 50%.
The Federal Reserve’s cautious stance on rate cuts added to the pressure, with officials opting to monitor tariff impacts before adjusting policy. Yet the dip appears transient against Bitcoin’s fundamental backdrop: spot ETF inflows continue unabated, corporate adoption accelerates with GameStop and Trump Media adding BTC to balance sheets, and daily mining output remains constrained at just 450 coins.
Market structure suggests this is a breather in a longer-term ascent. As institutional demand collides with programmed scarcity, the path of least resistance still points upward.
BlackRock’s Bitcoin ETF Ends 31-Day Inflow Streak With $430M Exit
BlackRock’s iShares bitcoin Trust, the world’s largest Bitcoin spot ETF, recorded $430.8 million in outflows on May 30, snapping a 31-day inflow streak. The outflow marked the fund’s largest single-day loss since its January 2024 launch, surpassing the previous record of $418.1 million on February 26.
Total net outflows across all 11 U.S. Bitcoin ETFs reached $616.1 million, with Fidelity’s FBTC shedding $3.7 million and Grayscale’s GBTC losing $16.2 million. Bitcoin’s price dipped from $110,000 to NEAR $103,000, though some analysts remain bullish on its upward trajectory.
ETF expert Nate Geraci noted the historic scale of BlackRock’s ETF growth, now holding roughly $70 billion in Bitcoin. "Not sure I have words to describe how ridiculous this is," he remarked on X.
Bitcoin Rebounds Above $104,300 Amid Market Turbulence
Bitcoin has staged a robust recovery, climbing back above $104,300 as global economic tensions and trade policy uncertainties trigger nearly $1 billion in liquidations. The cryptocurrency’s resilience underscores its growing role as a macroeconomic hedge, even as traditional markets grapple with tariff chaos.
Institutional interest remains unwavering, with corporate giants like Strategy (formerly MicroStrategy) and GameStop continuing to accumulate BTC for their treasuries. This institutional demand provides a strong fundamental floor for Bitcoin’s price action.
Technical analysis reveals a clear bottoming pattern, with the $103,200-$103,400 zone emerging as strong support. The subsequent breakout above $104,000 was accompanied by surging volume, confirming buyer conviction. Market structure now suggests the correction may have run its course, potentially setting the stage for the next leg up in Bitcoin’s ongoing bull market.
GameStop’s $500 Million Bitcoin Purchase Sparks Market Speculation
GameStop’s $513 million acquisition of 4,710 Bitcoin has sent ripples through financial and crypto markets, positioning the company alongside institutional heavyweights like MicroStrategy and Tesla. The move, announced on May 28, follows a March update to GameStop’s treasury policy and a $1.3 billion convertible notes offering. CEO Ryan Cohen, speaking at the 2025 Bitcoin Conference in Las Vegas, championed Bitcoin’s fixed supply and digital security as superior to gold.
Market reactions were mixed. GameStop’s stock initially surged 6.6% in pre-market trading but closed nearly 11% lower. Bitcoin held steady at $107,883 on May 29, though figures like Donald Trump Jr. and Eric Trump predict a rally past $170,000 if corporate adoption accelerates. Crypto Twitter erupted with memes, while analysts drew parallels between Bitcoin’s institutional embrace and the dot-com boom.
BlackRock’s IBIT Records Largest Outflow Amid Tariff Tensions, Ending 31-Day Inflow Streak
BlackRock’s iShares Bitcoin Trust (IBIT) saw its 31-day inflow streak snap with a record $430.8 million outflow on May 30, the largest single-day withdrawal since its January launch. The reversal coincided with escalating U.S.-China trade tensions following renewed tariff threats from former President Donald Trump.
The broader spot Bitcoin ETF market mirrored the retreat, posting $616.1 million in net outflows across all U.S. listings. Despite the pullback, IBIT maintains dominance with approximately $70 billion in Bitcoin assets under management—a figure ETFStore president Nate Geraci called "ridiculous" in scale.
